Bitcoin is a relative newcomer to the world of exchange-traded funds. Bitcoin ETFs tied to futures on the cryptocurrency launched in 2021, but it wasn’t until January 2024 that U.S. regulators allowed exchange-traded products tied directly to the day-to-day movement of bitcoin prices—known as the asset’s spot prices.
What is the ProShares short bitcoin ETF?
The ProShares Short Bitcoin ETF has been around since June 2022. BITI aims to return the inverse of the S&P CME Bitcoin Futures Index for a single day at a time. If and when bitcoin stumbles, this unique ETF may be of interest to investors. A “short” ETF is a risky long-term bet amid inflationary pressures that raise many assets’ prices.
What is BITB & ProShares bitcoin strategy ETF?
BITB is a relative newcomer as it launched in January 2024. ProShares Bitcoin Strategy ETF was a first-mover in this space and continues to be the leader among bitcoin futures ETFs. Keep in mind, however, that BITO is an actively managed fund linked to bitcoin futures contracts.
