ProShares, the largest provider of bitcoin-linked ETFs in the country, to launch The ProShares Short Bitcoin Strategy ETF (BITI), the first short bitcoin-linked ETF tomorrow. The ProShares Short Bitcoin Strategy ETF (BITI) provides a way for investors to potentially profit from a decline in the price of bitcoin or hedge their cryptocurrency exposure with the convenience of an ETF. BITI is designed to address the challenge of acquiring short exposure to bitcoin and it seeks to obtain exposure through bitcoin futures contracts. ProFunds filed with the U.S. Securities and Exchange Commission to create the fund, which plans to offer a -1X inverse return of the CME Bitcoin Futures Contracts for a single day. This structure is similar to the popular Proshares Bitcoin Strategy ETF (BITO), Valkyrie Bitcoin Strategy ETF (BTF), and the VanEck Bitcoin Strategy ETF (XBTF). However, the new short fund will operate in an inverse fashion. For mutual fund investors, ProFunds,
