ProShares will launch ETF aimed at shorting Bitcoin following dip under $20K
The ETF will allow U.S. investors to bet against BTC using futures contracts given the cryptocurrency’s performance in a single day, as measured by the CME Bitcoin Futures Index. The firm behind one of the first Bitcoin futures-linked exchange-traded funds in the United States will give investors a new vehicle to bet against the price of the cryptocurrency.In a Monday announcement, exchange-traded fund issuer ProShares said its Short Bitcoin Strategy ETF would be available for trading on the New York Stock Exchange, or NYSE, starting Tuesday under the ticker BITI. The vehicle will allow....
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A slow first day of trading on the short Bitcoin ETF may have been nothing but a slight hiccup in ProShares’ newest product as volumes grew on the second day. The first short Bitcoin ETF from ProShares got off to a very slow start on its June 21 launch but gathered pace by increasing trading volume 380% on day two.On launch day June 21, the ProShares Bitcoin Short Strategy Exchange-Traded Fund (BITI) traded a lackluster 183,300 shares which ETF analyst at Bloomberg Eric Balchunas noted in a tweet was “less than 1% of the volume $BITO had at this time on Day One.”However the next day’s....
Data shows the ProShares Bitcoin ETF has reached a milestone number of assets under management (AUM), and has breathed fresh life into CME in the process. ProShares Bitcoin ETF AUM Sets New All-Time High Of 26.7k BTC As per the latest weekly report from Arcane Research, the ProShares BITO ETF has set a new all-time […]
Per a press release, investment giant ProShares will launch a new Bitcoin-linked Exchanged Traded Fund (ETF) in the United States. The firm behind the first BTC ETF in this country, under the ticker BITO, will launch the Short Bitcoin Strategy under the ticker BITI. Related Reading | Cryptocurrencies Fuel Increase In High Net Worth Population, Survey […]
ProShares is set to launch a Bitcoin futures exchange-traded fund (ETF) on the New York Stock Exchange tomorrow, in what would be a first for institutional investors in the U.S.
Since launching last month, the ProShares Short Bitcoin Strategy ETF (BITI) has eclipsed others in inflows. Bitcoin (BTC) remains a popular institutional investment target in July, but the money is not betting on a bright future.According to data from research firm Arcane Research published July 6, institutional flows focused on products offering exposure to shorting BTC in the first week of the month.Shorting Bitcoin is the name of the gameSince launching in the United States in late June, the ProShares Short Bitcoin Strategy ETF (BITI), the first exchange-traded fund (ETF) to be "short"....