The ProShares Short Bitcoin Strategy ETF will be the first U.S. ETF to bet against the performance of Bitcoin futures.
BTC can face greater volatility this year as the Fed turns hawkish and prepares for aggressive rate hikes.
Betting against Bitcoin could become easier than ever before! On Tuesday, April 5th, ProShares filed for a Short Bitcoin Strategy exchange-traded fund (ETF) to track the inverse performance of an index of Bitcoin futures.
Last October 2021, ProShares introduced the Bitcoin Strategy ETF under the ticker BITO. It registered a solid response becoming the most-popular ETF debut on record.
If approved by the U.S. SEC, the ProShares Short Bitcoin Strategy ETF will be the first U.S. ETF to bet against the performance of the BTC futures. However, last year, the SEC had rejected a similar application by ProShares rival Direxion. But as per Bloomberg Intelligence, the SEC could be rather comfortable this time approving the product. Eric Balchunas, the ETF analyst at BI,
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