Cryptocurrency News

ProShares will launch ETF aimed at shorting Bitcoin following dip under $20K

06/20/2022

Less than a minute

2022.06.20 21:36

ProShares will launch ETF aimed at shorting Bitcoin following dip under $20K

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 U.S. investors to bet against Bitcoin (BTC) using futures contracts, given the cryptocurrency’s performance in a single day as measured by the Chicago Mercantile Exchange Bitcoin Futures Index.

06/20/2022

Less than a minute

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