One Week ProShares Bitcoin Short ETF Growth Exceeds 300 Percent

Depricated as of Oct 2022

Some CRYPKYP functionalities are depricated as of October 2022 and will no longer be populated until further development and future version.
Although all here is visible and interactable you can not Contribute to those articles.
Try looking at other information on the Platform and Contributing there!

Have a great day,

One Week ProShares Bitcoin Short ETF Growth Exceeds 300 Percent

One Week ProShares Bitcoin Short ETF Growth Exceeds 300 Percent
Bitcion. Image: Shutterstock
Source: Decrypt
1657180204 07 Jul / 07:50

Last week, the ProShares' Bitcoin Short ETF (BITI) increased by 306%, solidifying its position as the second-largest Bitcoin ETF in the United States.

According to Arcane Research, BITI's net short exposure has increased from 937 BTC on June 27 to 3,811 BTC. Most fresh deposits arrived on June 29 and 30, with 1,684 BTC and 700 BTC, respectively.

The fund debuted on June 21 and became the second-largest Bitcoin ETF in the United States within two days, following another ProShares investment vehicle, the Bitcoin Strategy ETF (BITO), which has more than 32,000 BTC, according to statistics from Arcane.

ETFs, or exchange-traded funds, give investors indirect exposure to the underlying asset. Investing in commodities or cryptocurrencies, which might be difficult to transport or store, can be advantageous.

Futures-based Bitcoin ETFs are the only ones allowed in the U.S. yet. This implies they are backed by futures contracts, which are cash-settled wagers on the future price of Bitcoin rather than current values.

BITO was the first product of its kind to be introduced in the country, making it extremely popular among investors. BITI is designed differently than the S&P CME Bitcoin Futures Index; its performance is negatively associated with that index. In other words, investors earn when Bitcoin’s price falls.

Given that BITI is less than 10% of the size of BITO, ETF investors may continue to choose long exposure to BTC. In addition, Arcane stated last week that long-term exposure to BITI is ineffective.

The Securities and Exchange Commission has repeatedly rejected a Bitcoin spot-based ETF product backed by actual Bitcoin. Grayscale is suing the regulator for its refusal to treat spot- and futures-based funds equally, even though both have been permitted in several other nations.

Last News and Media
CRYPKYP contain links to third-party websites, resources, and advertisers. CRYPKYP does not control, sponsor, recommend or otherwise accept responsibility for any third-party content because we are not responsible for the availability of these outside resources or their contents or privacy practices. It will help if you direct any concerns regarding any third-party content to such a third party. We don't accept responsibility for the content of external websites linked to through the Site or the Services. Third-party content is accessed at the user's own risk. CRYPKYP distributes content from third-party publishers as indicated on the site from time to time mainly in Airdrops, News / Media, Whale Alerts, and Rumors. In these circumstances, CRYPKYP only provides limited stylistic input to the content. CRYPKYP does not verify and takes no responsibility for the accuracy of the content provided by any such third-party publishers.
We are currently experiencing technical issues!

Since March 27th, we have been unable to get data from Coingecko's API.
As we depend on this to show exact Cryptocurrency results, the last data we have is from the date mentioned before.
Calculator is currently disabled.

Thank you for your understanding and patience.
Click on this message to hide it.
Powered by
Coingecko Marketstack Metals-API World Bank