Critical ETF Move from ProShares

ProShares, which launched the first Bitcoin futures ETF product in the US, announced today that it has decided to launch a new ETF product based on Bitcoin short selling.

Critical ETF Move from ProShares. The collapse in the cryptocurrency markets pushed companies to find alternative solutions. According to the news compiled by Investing.com, US-based ProShares has developed a fund called the Short Bitcoin Strategy ETF (BITIX), which will allow investors to profit from the fall of Bitcoin. It is stated that BITIX, which will protect investors against the risk of decrease, will be released today. In a statement made by ProShares, it was stated that the mutual fund will have the title of being the first ETF product of its kind in the USA. Let us also remind you that ProShares launched the ProShares Bitcoin Strategy ETF, the USA's first Bitcoin futures ETF, which broke a record in October last year and attracted more than $1 billion in funds in two days. After this move, with the purchases of BTC investors, the leading crypto rose to an all-time high of $69 thousand. However, the tightening messages of the Fed and the increased inflation due to the Russia-Ukraine war caused investors to withdraw from risky markets. Finally, the Terra coup caused a serious loss of value in the markets. The leading cryptocurrency Bitcoin fell to $17 thousand over the weekend. Bitcoin, which has partially recovered with purchases from the bottom, is currently located around 21 thousand dollars. ProShares, which was effective in the rise of Bitcoin up to 69 thousand dollars, seems to have taken action to turn the current market conditions into opportunities. Considering the downward trend in Bitcoin, ProShares provides an indirect Bitcoin short sale opportunity to investors who want to profit from the decline of cryptocurrencies with a proactive approach.     Source: Investing.com