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Take note, amateur Peter Schiffs.
If you agree with Euro Pacific Capital's infamous Bitcoin perma-bear and expect the value of the cryptocurrency to eventually trend toward zero, there’s a new product on the market to cater to that very outcome.
The new ProShares Short Bitcoin Strategy exchange traded fund (ticker: BITI), available through traditional brokerage accounts, offers a return inversely related to the daily performance of the S&P CME Bitcoin Futures Index on the Chicago Mercantile Exchange.
“BITI affords investors who believe that the price of Bitcoin will drop with an opportunity to potentially profit or to hedge their cryptocurrency holdings,“ ProShares CEO Michael Sapir said in a statement on Monday.
Trading in the instrument, approved by the Securities and Exchange Commission (SEC), began on Tuesday.
Futures vs. Spot ETFs
Since futures ETFs...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...