Digital Banking

ProShares intros bitcoin-linked ETF

June 28, 2022

ProShares, an exchange-traded funds provider, has launched its first short bitcoin-linked ETF in the U.S. With this short bitcoin strategy ETF, investors can profit from a decline in bitcoin's price or hedge their cryptocurrency exposure, according to a press release.

"As recent times have shown, bitcoin can drop in value," Michael L. Sapir, ProShares CEO, said in the release. "BITI affords investors who believe that the price of bitcoin will drop with an opportunity to potentially profit or to hedge their cryptocurrency holdings. BITI enables investors to conveniently obtain short exposure to bitcoin through buying an ETF in a traditional brokerage account."