Investment Firm Aims to Launch a Bitcoin 'Bear ETF' That Shorts BTC Futures

[Tamsialu$$]

ETF issuer Direxion wants to release a product that gives Wall Street investors the chance to bet on Bitcoin's price going down. An ETF is a popular investment tool traded on a stock exchange that lets people buy shares that represent a particular asset, sector, commodity, or security.

The first-ever U.S. Bitcoin-related ETF, ProShares’ Bitcoin Strategy ETF, started trading on the New York Stock Exchange last week. The futures ETF, which lets investors buy and sell shares that represent contracts betting on the price of Bitcoin, was hugely popular: it traded almost $1 billion in shares on its first day, which nearly broke the record for a debuting ETF.more info