US Brent Oil Fund

Brent crude sets the price for much of the world's oil outside North America, and BNO is a way to trade it without an account at a futures exchange. The fund does not store barrels; it holds Brent futures contracts, mostly the near-month, and rolls them forward as they expire. That mechanic matters: when later-dated contracts cost more than nearer ones, the roll quietly bleeds returns, so BNO can lag the spot oil price over long stretches even when crude is flat. USCF, the sponsor that also runs the better-known US Oil Fund, launched it in 2010. Traders use it for short-term bets on Brent or as a hedge against energy prices, but it works poorly as a long-term hold because of those roll costs and the tax paperwork that commodity-futures funds generate.

On MyRWA, BNO trades tokenized across 4 on-chain venues - see the listings below.