ProShares will release a new ETF allowing investors to short bitcoin during harsh market conditions enabling institutions to legally bet against the asset.
Shortly after the the release of Proshare’s original ETF, bitcoin surged to its all-time-high, close to $69,000. In comparison, Proshares has released this ETF allowing investors to short bitcoin as it endures a harsh market correction, which bottomed out around $17,800 and currently is fighting to hold $20,000.
Previously, the original ETF was launched to provide institutional and retail investors access to the asset without dealing with technical complications or legal hurdles. Similarly, the Proshares short ETF will provide institutions access to play towards negative sentiment without interfacing with those same hurdles in a compliant manner.
