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HomeBitcoinProShares Short Bitcoin ETF to Launch on Tuesday, June 21

ProShares Short Bitcoin ETF to Launch on Tuesday, June 21


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Gamza Khanzadaev

Launch of first U.S. ETF linked to Bitcoin worth declining tomorrow has been confirmed

In accordance with a press launch printed by way of Enterprise Wire on June 20, ProShares will launch on the New York Inventory Alternate the primary short-expected Bitcoin futures ETF, with ticker BITI. All data concerning the technical traits of the newly launched ETF can be found within the prospectus.

The quick nature of BITI is designed to permit customers to make trades and revenue from them, versus the efficiency of the S&P CME Bitcoin Futures Index or, for instance, the long-expected Bitcoin ETF from the identical ProShares, BITO.

Talking of BITO, launched in October 2021, it’s price noting that ProShares then managed to lift over $1 billion in exchange-traded funds in simply two days, making BITO essentially the most efficiently launched ETF within the historical past of this younger trade.

One other factor price mentioning, after all, is the truth that BITO, which began at $42, is presently valued at $12.72, i.e., it has fallen virtually 70%. Nicely, we are able to say that it correlates very well with Bitcoin (BTC), which within the interval below overview additionally misplaced almost 70% of its October worth.

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Supply: TradingView

The launch of BITI makes ProShares the one American fund providing its buyers to commerce Bitcoin in each instructions, implement their methods and hedge them, utilizing two virtually an identical instruments from one supplier and, due to this fact, making the method extra comprehensible. Let’s hope we see an identical outcome and additional efficiency as within the case of BITO.



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