2 years ago
ProShares has applied with the U.S. Securities and Exchange Commission (SEC) to motorboat what would beryllium this country’s archetypal inverse Bitcoin exchange-traded money (ETF).
ProShares manages the lone Bitcoin ETF trading successful the U.S., the Bitcoin Strategy ETF (BITO), which is notable for tracking Bitcoin futures, not the spot price. The SEC has famously delayed oregon rejected each spot Bitcoin ETF applications.
This abbreviated product, the ProShares Short Bitcoin Strategy ETF, would besides way futures, arsenic opposed to the spot price.
Bloomberg Intelligence analyst Eric Balchunas notes the SEC rejected a akin offering by Direxion past year, but believes this ProShares merchandise has a changeable fixed ProShares’ way grounds successful getting BITO approved.
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Michael Bellusci is CoinDesk's crypto payments reporter.
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