ProShares to launch ETF aimed at shorting bitcoin
ProShares, a provider of bitcoin-linked exchange traded funds (ETF), announced that it plans to launch an ETF aimed at shorting the world's largest cryptocurrency. Called the ProShares Short Bitcoin Strategy ETF (NYSE Ticker: BITI), the fund will provide a way for investors to potentially profit from a decline in the price of bitcoin or hedge their cryptocurrency exposure with an ETF, the company said in a statement. It is further intended to address the challenge of acquiring short exposure to bitcoin, which can be…