ApeWatcher News
  • Home
  • Advertise
  • Headlines
  • Crypto
    • News
    • Bitcoin
    • Ethereum
    • Altcoin
    • View All
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos
  • Listing Platform
  • BSC
  • CRO
  • ETH
  • BRC
  • Listing Platform
  • BSC
  • CRO
  • ETH
  • BRC
What's Hot

Trader Who Nailed 2022 Bitcoin Bottom Says BTC Disbelief Rally Is Underway – Here Are His Targets

March 26, 2023

Billionaire Barry Sternlicht Warns of Hard Landing — Says ‘Economy Is Going to Implode’

March 26, 2023

Billionaire Bill Ackman on US Banking Crisis: ‘I Fear We Are Heading for a Train Wreck’

March 26, 2023
Twitter Telegram
  • Listing Platform
  • Home
  • BSC
  • CRO
  • ETH
  • BRC
Advertise
Twitter Telegram
ApeWatcher News
  • Headlines
  • Crypto
    1. News
    2. Bitcoin
    3. Ethereum
    4. Altcoin
    5. View All

    Trader Who Nailed 2022 Bitcoin Bottom Says BTC Disbelief Rally Is Underway – Here Are His Targets

    March 26, 2023

    Billionaire Barry Sternlicht Warns of Hard Landing — Says ‘Economy Is Going to Implode’

    March 26, 2023

    Billionaire Bill Ackman on US Banking Crisis: ‘I Fear We Are Heading for a Train Wreck’

    March 26, 2023

    US explores additional bank support favoring First Republic’s benefit: Report

    March 26, 2023

    Trader Who Nailed 2022 Bitcoin Bottom Says BTC Disbelief Rally Is Underway – Here Are His Targets

    March 26, 2023

    Crypto Trader Maps Path Forward for Aptos and Chainlink, Predicts Altcoins Will Fly Once Bitcoin Cools Off

    March 25, 2023

    Bitcoin liquidations vanish as trader hopes $30K will hit before dip

    March 25, 2023

    Bitcoin Could Easily Rip by Over 140% Amid Banking Crisis, Says Tether CTO Paolo Ardoino – Here’s the Timeline

    March 25, 2023

    Euler Finance exploiter returns over 58,000 stolen Ether

    March 25, 2023

    Bitcoin likely to outperform all crypto assets following banking crisis, analyst explains

    March 24, 2023

    Heavyweight champ Oleksandr Usyk seeks to tokenize boxers’ careers

    March 24, 2023

    Arbitrum airdrop sells-off at listing, but traders remain bullish on ARB

    March 23, 2023

    Polkadot, Kusama and Cardano Leading Crypto Space in Terms of ‘Notable GitHub Activity’: Santiment

    March 25, 2023

    Cardano Creator Charles Hoskinson Says US Government Waging War on Crypto, Urges Industry Leaders To Step Up

    March 25, 2023

    Arbitrum Discord hacker shares phishing announcement amid airdrop hype

    March 25, 2023

    Analyst Predicts Ethereum Rival Will Explode by Over 90%, Updates Outlook on XRP, Cardano and Solana

    March 25, 2023

    Trader Who Nailed 2022 Bitcoin Bottom Says BTC Disbelief Rally Is Underway – Here Are His Targets

    March 26, 2023

    Billionaire Barry Sternlicht Warns of Hard Landing — Says ‘Economy Is Going to Implode’

    March 26, 2023

    Billionaire Bill Ackman on US Banking Crisis: ‘I Fear We Are Heading for a Train Wreck’

    March 26, 2023

    US explores additional bank support favoring First Republic’s benefit: Report

    March 26, 2023
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos

    🔴 US Economy is headed for a "DISASTER of EPIC Proportion"! 🔴

    March 24, 2023

    I Can't Believe They Did This?! Signature Shutdown!

    March 24, 2023

    NO ONE Will Admit THIS! #shorts #bitcoin #youtubeshorts

    March 24, 2023

    #1 Bitcoin Mistake! (DO NOT DO THIS)

    March 24, 2023

    The SEC Crackdown Against Crypto Just Got Worse..

    March 23, 2023
  • jeet-detector-botJDB(JDB)
    $0.00-0.61% 24H
    JDB
    24H : -0.61%
    Volume : $0.00
    Marketcap : $0.00
  • bitcoinBitcoin(BTC)
    $0.00-0.03% 24H
    BITCOIN
    24H : -0.03%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.00-0.19% 24H
    ETHEREUM
    24H : -0.19%
    Volume : $0.00
    Marketcap : $0.00
  • usdex-stablecoinUSDEX(USDEX)
    $0.00-0.47% 24H
    USDEX
    24H : -0.47%
    Volume : $0.00
    Marketcap : $0.00
  • tetherTether(USDT)
    $0.000.060% 24H
    TETHER
    24H : 0.060%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.000.320% 24H
    BNB
    24H : 0.320%
    Volume : $0.00
    Marketcap : $0.00
  • usd-coinUSD Coin(USDC)
    $0.000.130% 24H
    USD COIN
    24H : 0.130%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.000.560% 24H
    XRP
    24H : 0.560%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.00-1.71% 24H
    CARDANO
    24H : -1.71%
    Volume : $0.00
    Marketcap : $0.00
  • dogecoinDogecoin(DOGE)
    $0.00-0.60% 24H
    DOGECOIN
    24H : -0.60%
    Volume : $0.00
    Marketcap : $0.00
  • jeet-detector-botJDB(JDB)
    $0.00-0.61% 24H
    JDB
    24H : -0.61%
    Volume : $0.00
    Marketcap : $0.00
  • bitcoinBitcoin(BTC)
    $0.00-0.03% 24H
    BITCOIN
    24H : -0.03%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.00-0.19% 24H
    ETHEREUM
    24H : -0.19%
    Volume : $0.00
    Marketcap : $0.00
  • usdex-stablecoinUSDEX(USDEX)
    $0.00-0.47% 24H
    USDEX
    24H : -0.47%
    Volume : $0.00
    Marketcap : $0.00
  • tetherTether(USDT)
    $0.000.060% 24H
    TETHER
    24H : 0.060%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.000.320% 24H
    BNB
    24H : 0.320%
    Volume : $0.00
    Marketcap : $0.00
  • usd-coinUSD Coin(USDC)
    $0.000.130% 24H
    USD COIN
    24H : 0.130%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.000.560% 24H
    XRP
    24H : 0.560%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.00-1.71% 24H
    CARDANO
    24H : -1.71%
    Volume : $0.00
    Marketcap : $0.00
  • dogecoinDogecoin(DOGE)
    $0.00-0.60% 24H
    DOGECOIN
    24H : -0.60%
    Volume : $0.00
    Marketcap : $0.00
ApeWatcher News
Home » World’s first short Bitcoin ETF sees exposure explode 300% in days
Bitcoin

World’s first short Bitcoin ETF sees exposure explode 300% in days

Coin TelegraphBy Coin TelegraphJuly 6, 20220 ViewsNo Comments
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin (BTC) remains a popular institutional investment target in July, but the money is not betting on a bright future.

According to data from research firm Arcane Research published July 6, institutional flows focused on products offering exposure to shorting BTC in the first week of the month.

Shorting Bitcoin is the name of the game

Since launching in the United States in late June, the ProShares Short Bitcoin Strategy ETF (BITI), the first exchange-traded fund (ETF) to be “short” BTC, has proved a hit.

That trend has only accelerated in July, with short exposure jumping over 300% in days, data confirms.

“BITI, the first inverse BTC ETF, grew further last week,” Arcane summarized in Twitter comments.

“After becoming the second-largest bitcoin-related BTC ETF in the U.S. after only four days of trading, the net short exposure has grown further and increased by more than 300% last week.”

ProShares Short Bitcoin Strategy ETF (BITI) exposure chart. Source: Arcane Research/ Twitter

The timing for BITI in the U.S. is conspicuous in itself, coming as BTC/USD plumbed multi-year lows of $17,600.

As Cointelegraph reported, expectations among analysts remain skewed to the downside, and the BITI inflows appear to confirm that institutional sentiment is likewise.

Separate data published by digital asset investment firm CoinShares on July 4, meanwhile, put weekly inflows into Short BTC products at $51 million — easily the majority of the week’s total of $64 million.

While long BTC investments were just $20 million, CoinShares nonetheless highlighted persisting demand for such products despite shorts stealing the limelight.

“This highlights investors are adding to long positions at current prices, with the inflows into short-Bitcoin possibly due to first-time accessibility in the US rather than renewed negative sentiment,” it wrote.

Business (or lack of) as usual for GBTC

Testing times, meanwhile, remain for the stalwart institutional Bitcoin investment vehicle, the Grayscale Bitcoin Trust (GBTC).

Related: Bitcoin price approaches potential springboard to $23K as DXY cools surge

After U.S. regulators rejected Grayscale’s application to convert the Trust to a Bitcoin spot ETF, the firm began legal action, a sign of the frustration facing an industry dealing with both regulatory scrutiny and declining asset prices.

The so-called GBTC premium, the difference between Bitcoin spot price and shares of GBTC, has been negative for over a year, at several points becoming a more than 30% discount.

GBTC premium vs. asset holdings vs. BTC/USD chart. Source: Coinglass

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.



Read the full article here

Follow us on Google News to get the latest Updates

 
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trader Who Nailed 2022 Bitcoin Bottom Says BTC Disbelief Rally Is Underway – Here Are His Targets

March 26, 2023

Crypto Trader Maps Path Forward for Aptos and Chainlink, Predicts Altcoins Will Fly Once Bitcoin Cools Off

March 25, 2023

Bitcoin liquidations vanish as trader hopes $30K will hit before dip

March 25, 2023

Bitcoin Could Easily Rip by Over 140% Amid Banking Crisis, Says Tether CTO Paolo Ardoino – Here’s the Timeline

March 25, 2023

$12,000,000,000 Asset Manager Says Investors Flocking to Bitcoin and Crypto Amid Global Banking Fallout

March 25, 2023

Bitcoin bulls remain bullish, but macro and crypto-specific hurdles have BTC pinned below $30K

March 24, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Articles

Trader Who Nailed 2022 Bitcoin Bottom Says BTC Disbelief Rally Is Underway – Here Are His Targets

March 26, 2023

Billionaire Barry Sternlicht Warns of Hard Landing — Says ‘Economy Is Going to Implode’

March 26, 2023

Billionaire Bill Ackman on US Banking Crisis: ‘I Fear We Are Heading for a Train Wreck’

March 26, 2023
ApeWatcher News
Twitter Telegram
  • Privacy Policy
  • Sources
  • Terms and Conditions
  • Contact
  • Advertise
© 2023 Ape Watcher News

Type above and press Enter to search. Press Esc to cancel.