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ProShares will launch ETF aimed at shorting Bitcoin following dip under $20K -Breaking


Following a drop below $20K ProShares will introduce an ETF that aims to shorten Bitcoin

One of the first Futures-Linked Exchange-Traded Funds in America will offer investors an opportunity to place a bet on the price of cryptocurrency.

ProShares, an exchange-traded fund provider, announced Monday that it had issued a new issue. The Short Bitcoin Strategy ETF will be traded on the New York Stock Exchange (NYSE) starting Tuesday, under the ticker BITI. It will be available for U.S. investors (ticker BITI) to place bets against Bitcoin.BTC) using futures contracts, given the cryptocurrency’s performance in a single day as measured by the Chicago Mercantile Exchange Index.