122 total views
Net short exposure in the Proshares Short Strategy Bitcoin ETF (BITI) grew 300% last week, according to a report from crypto platform Arcane Research.
Per the firm, investor exposure in BITI, a recently launched inverse BTC exchange traded fund – the first in the US market – increased by more than 300% this past week. The data shows the more traders have shorted BTC even as the market continues to struggle with negative sentiment.
Are you looking for fast-news, hot-tips and market analysis?
Sign-up for the Invezz newsletter, today.
ProShares’ short bitcoin ETF sees huge inflows
Investors use inverse ETFs to gain exposure to potential profit when the price of Bitcoin falls. As crypto continues to struggle, interest in the product has increased.
The net short BTC exposure via BITI, according to Arcane’s data published Monday, showed inflows jumped towards the end of last week. The ETF, which held an equivalent of 3811 bitcoins in net inverse positions at the time of the report, saw 1684 BTC and 700 BTC of inflows on Wednesday and Thursday.
The inflows represented a 306% jump in net short exposure during the week, the research platform said in its report.
But while BITI saw a threefold increase, it represents a small part of the overall Bitcoin ETF exposure.
At current holdings, the ETF is roughly 12% of the cash settled Proshares Bitcoin Strategy ETF (BITO) – which suggests that most ETF investors have a positive outlook for Bitcoin.
75.26% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Blockcast.cc does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice or recommendations. Every investment and trading move involves risk, you should conduct your own research when making a decision.