Cryptocurrencies
Wall Street Seizes Bitcoin Volatility With Leveraged, Short ETFs
- ProShares’ BITU and SBIT track twice Bitcoin’s performance
- Launch underscores demand for crypto exposure for investors
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The frenzy surrounding the launch of spot Bitcoin exchange-traded funds has yet to lose steam as Wall Street’s latest entrant offers supercharged versions of such products.
ProShares on Tuesday launched ProShares Ultra Bitcoin ETF (ticker BITU), which tracks two times the daily performance of Bitcoin via the Bloomberg Bitcoin Index, and ProShares UltraShort Bitcoin ETF (SBIT), which tracks the inverse of that, according to a release. Each has an expense ratio of 95 basis points.