Cryptocurrencies
Betting Against Bitcoin May Get Easier With Futures ETF Filing
- ProShares applies to SEC for an inverse Bitcoin futures ETF
- Issuer Direxion withdrew a similar proposal in late October
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The firm behind the first U.S. Bitcoin futures ETF wants to launch a product that will bet against the world’s largest cryptocurrency.
The ProShares Short Bitcoin Strategy exchange-traded fund would track the inverse performance of an index of Bitcoin futures, according to Tuesday filing with the U.S. Securities and Exchange Commission. ProShares introduced the Bitcoin Strategy ETF (ticker BITO) in October, which ranked among the most popular ETF debuts on record.