A ripple of excitement has recently coursed through the crypto market, particularly on Bitcoin. Bolstered by speculation regarding the impending approval of a spot Bitcoin exchange-traded fund (ETF) —a sentiment propelled by BlackRock’s iShares ETF’s appearance on the DTCC website—Bitcoin recorded an 18-month high trading above $35,000.
This upward movement came on the heels of a notable 10% surge on Monday.
ProShares Short Bitcoin Strategy ETF: A Declining Tale?
Contrary to the general jubilance, not all BTC-related financial instruments are shared in the celebration. The ProShares Short BTC Strategy ETF, designed for traders banking on a decline in Bitcoin futures, grappled with a record low.
Just over a year ago, this fund basked in the glory of a peak value of $45.61; a zenith reached as crypto assets took a downturn in the aftermath of FTX’s collapse.
However, this year, the ProShares Short Bitcoin Strategy ETF has faced challenges, its value diminishing by 59.3% to st
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