BITI, First Short Bitcoin ETF Rose 300% Just Days After Launch
— Investment, Short, Exposure, Gbtc, Biti, Launch, Days, Rose, Recorded, Bitcoin — 1 min read
Latest data reveals short exposure has experienced a 300% boost. ProShares Short Bitcoin Strategy ETF (BITI) is the first exchange-traded fund (ETF) to be “short” BTC. The launch of BITI comes at a time when BTC/USD has reached a low of $17,600. The weekly inflows into Short BTC products were recorded to be at $51 million as per the latest data. The reason investors are attracted towards shorts could be because of their first-time accessibility. Meanwhile, Grayscale Bitcoin Trust (GBTC) continues to face tough times. GBTC Premiums are running in negative for a year now. At various points, it is recorded at over 30% at various points Source