ProShares Short Bitcoin (BITI)

by | Feb 21, 2024 | Daily Trade Alerts

With Bitcoin could push to higher highs with an upcoming halving, it’s seeing some selling pressure with the broader market at the moment. Should it continue to pull back in the immediate term, one way to potentially profit from the move is with the ProShares Short Bitcoin (BITI).

This one follows the S&P CME Bitcoin Futures Index, with profitability computed daily (before fees and expenses) as the inverse (-1x) of the index’s daily performance. BITI has an expense ratio of 0.97%. So, as BTC pulls back, BITI typically rises.

Then, when BTC starts to turn higher, investors can always use the ProShares Bitcoin Strategy ETF (BITO).With an expense ratio of 0.95%, the ETF tracks the performance of spot Bitcoin, and is the world’s largest and most actively traded cryptocurrency ETF, according to ProShares. BITO is mimicking the price of Bitcoin as closely as possible without investing in the cryptocurrency itself. As noted by Money, “Like all crypto ETFs, part of the allure of BITO is that investors don’t need to deal with cryptocurrency wallets and private keys but can instead invest through a broker they already use.”


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