BITI Grows 300% After A Few Days Of Launch

Since its launch last month, the ProShares Short Bitcoin Strategy ETF (BITI) has eclipsed others in terms of capital flows.

Bitcoin (BTC) remains a popular institutional investment target in July, but the money isn’t a bet on a bright future.

According to data from research firm Arcane Research published on July 6, institutional funding is focused on products that offer the ability to short BTC during the first week of the month.

Launched at the end of June, the ProShares Short Bitcoin Strategy ETF (BITI), the pioneering Bitcoin ETF in the US, has been a hit. According to data published by Arcane Research on July 6, capital inflows are concentrated mainly on short-selling BTC ETF products.

BITI has grown by more than 300% in just a few days, Arcane shared in a tweet:

The GBTC premium, the difference between the market price of Bitcoin spot and the GBTC stock held by the trust, has been negative for over a year. This metric shows that the inflow of BTC has decreased significantly, leading to a situation where GBTC is trading below the spot price in the market.

Separate data released by digital asset investment firm CoinShares on July 4 shows weekly inflows into Bitcoin Short products at $51 million — the bulk of a total inflow of $64 million of the week.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu New