ETF

There’s good news for people who find bad news about crypto to be good. Starting tomorrow, you’ll be able to buy an exchange-traded fund based on shorting Bitcoin. The financial firm ProShares will debut the first ETF to let you bet against Bitcoin, and it’s set to be listed on the New York Stock Exchange when the bell opens tomorrow, June 21, under the ticker BITI. The SEC previously approved a futures Bitcoin ETF, also from ProShares, in October. It debuted alongside some of the biggest growth Bitcoin has seen. Now,…

On July 6, the SEC will say whether it has approved Grayscale’s application to turn its flagship Bitcoin Trust into a spot ETF. Grayscale, the asset manager running the world’s largest bitcoin fund, met privately with the Securities and Exchange Commission last week in an effort to persuade the regulator to approve the conversion of its flagship fund into an ETF, CNBC has learned. That’s because the trust, known by its GBTC ticker, has traded at an average 25% discount to the price of its underlying asset…