New: Bitcoin ETF

A new Bitcoin ETF by ProShares tracks the futures price of bitcoin under the ticker symbol “BITO” on the NYSE. This means you can now gain exposure to bitcoin through a brokerage account. BITO can be bought and sold like a stock and eliminates the need for a crypto wallet and an account at a cryptocurrency exchange if you want exposure to Bitcoin only. Currently, Midland clients can set up a Midland TD Ameritrade or Midland TradeStation brokerage account.

Rules & Things to Note With Crypto Investments in an IRA

  • You cannot buy cryptocurrency personally and sell it to your IRA.
  • The trading platform’s procedures must meet IRS rules and regulations.
  • The IRS considers cryptocurrency personal property for tax purposes.
  • When you hold digital currencies in an IRA, they receive the same tax-sheltered advantages as any other IRA investment.

Be sure to consult with your financial advisor to decide if cryptocurrency in an IRA is the right strategy for your investment portfolio.