(SEC) The ProShares Short Bitcoin Strategy ETF could be a potential new product in the market if it earns the approval of the US Securities & Exchange Commission.
The new ETF will enable investors to bet against Bitcoin price as it traces the opposing performance of the BTC futures index.
ProShares says the proposed fund will seek daily investment results before related fees and expenses, corresponding to the inverse of the daily performance of the gauge.
Eric Balchunas, a senior Bloomberg ETF analyst, says that ProShares may succeed in its filing due to its positive relations with the SEC after a successful $BITO ETF and lack of issues with the products so far.
If approved, the proposed ETF would be the first in the US that bets against the performance of Bitcoin futures.
BTCUSD is down -2.65%, BITO is down -4.16%
