ICYMI: ProShares launches first US ETF to bet on bitcoin’s decline
The short ETF will give investors the opportunity to profit from declines in the price of bitcoin.plans to launch a short bitcoin exchange traded fund to allow investors to bet on declines in the largest cryptocurrency.
“As recent times have shown, bitcoin can drop in value,” ProShares CEO Michael L. Sapir said in Monday's announcement, adding that the product will enable investors to obtain short exposure to bitcoin through a traditional brokerage account. Alternatively investors will also have the option of investing through ProFunds, an affiliated mutual fund company of ProShares, which will launch a short bitcoin strategy ProFund on Tuesday.
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