ETF That Bets Against Bitcoin to Launch - 21 iunie 2022

De la TradeVille.ro wiki

Financial firm ProShares is ready to roll out the first U.S.-listed short bitcoin futures exchange-traded fund this week, allowing investors to effectively bet against the largest cryptocurrency after its price tumbled below $20,000 over the weekend.

The Bethesda, Md., firm’s fund, the Short Bitcoin Strategy ETF, will trade on the New York Stock Exchange and go by the ticker BITI. 

The fund launch comes as a brutal selloff in cryptocurrencies has shown no signs of abating. Bitcoin has plunged 56% this year, while ethereum has plummeted 69%, according to CoinDesk data. The total market capitalization of all digital currencies stood at $857 billion on Sunday, well below its peak of nearly $3 trillion last November. As the Federal Reserve has been unwinding its easy-money policies to fight inflation, investors have been dumping more speculative assets.

https://www.wsj.com/articles/etf-that-bets-against-bitcoin-to-launch-11655683379

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