How ETF investors can bet on the crypto crash
— Clients ," tom lydon, Etf edge, Inflation, Financing costs, Flagship coin, Upside, Bitcoin futures contracts, Manage, Historic high last november, Weve — 1 min read
ProShares launched BITI, the first U.S. short bitcoin-linked ETF, on June 21. BITI operates inversely (-1x) to the S&P CME Bitcoin Futures Index. June was bitcoin's worst month on record, losing more than 38% of its value in the period alone. Bitcoin's steady freefall has brought the flagship coin down almost 70% off its historic high last November. The fee for BITI is.95%, but Hyman explained that the financing costs and restrictions on shorting bitcoin make the.ETF a less costly avenue for exposure for exposure. The correlation between bitcoin and futures remains tight, despite investor concerns last year that there would be too much variation between the spot market and futures market Source