ETFdb Logo
  • ETF Database
  • Channels
    • Themes
      • Active ETF
      • Alternatives Channel
      • Artificial Intelligence
      • China Insights
      • Climate Insights
      • Core Strategies
      • Crypto
      • Disruptive Technology
      • Energy Infrastructure
      • ETF Building Blocks
      • ETF Education
      • ETF Investing
      • ETF Strategist
      • Faith-Based Investing
      • Financial Literacy
      • Fixed Income
      • Free Cash Flow
      • Innovative ETFs
      • Invest Beyond Cash
      • Leveraged & Inverse
      • Modern Alpha
      • Portfolio Strategies
      • Tax Efficient Income
    • Asset Class
      • Equity
        • U.S. Equity
        • Int'l Developed
        • Emerging Market Equities
      • Alternatives
        • Gold/Silver/Critical Materials
        • Crypytocurrency
        • Currency
        • Volatility
      • Fixed Income
        • Investment Grade Corporates
        • US Treasuries & TIPS
        • High Yield Corporates
        • Int'l Fixed Income
    • ETF Ecosystem
    • ETFs in Canada
    • Market Outlook
  • Tools
    • ETF Screener
    • ETF Country Exposure Tool
    • ETF Database Categories
    • Indexes
    • Scenario Analysis
    • Watchlists
    • Head-To-Head ETF Comparison Tool
    • Mutual Fund To ETF Converter
    • ETF Stock Exposure Tool
    • ETF Issuer Fund Flows
  • Research
    • ETF Education
    • Equity Investing
    • Dividend ETFs
    • Leveraged ETFs
    • Inverse ETFs
    • Index Education
    • Index Insights
    • Top ETF Sectors
    • Top ETF Issuers
    • Top ETF Industries
  • Webcasts
  • Themes
    • AI ETFs
    • Blockchain ETFs
    • See all Thematic Investing ETF themes
    • ESG Investing
    • Marijuana ETFs
  • Multimedia
    • ETF 360 Video Series
    • ETF of the Week Podcast
    • Gaining Perspective Podcast
    • ETF Prime Podcast
    • Video
  • Company
    • About VettaFi
    • Get VettaFi’ed
  • PRO
    • Pro Content
    • Pro Tools
    • Advanced
    • FAQ
    • Pricing
    • Free Sign Up
    • Login
  1. Crypto Channel
  2. Crypto Is in Chaos, Short Bitcoin in BITI
Crypto Channel
Share

Crypto Is in Chaos, Short Bitcoin in BITI

Nick Peters-GoldenNov 11, 2022
2022-11-11

The news that crypto platform FTX collapsed this week, failing to find a buyer to provide crucial liquidity, has rocked the digital assets landscape. With FTX CEO Sam Bankman-Fried resigning and FTX filing for bankruptcy, now may be the time for investors to short Bitcoin via the ProShares Short Bitcoin Strategy ETF (BITI C+).

The FTX news is just the latest in this year’s “crypto winter,” which has seen Bitcoin’s price drop massively since January. Ethereum and other cryptocurrencies have also taken some hits in the most serious downturn for crypto since the 2018-2020 contraction, with the new winter arriving as a lot of previously cheap money has left for greener pastures.

The situation is so severe that at least one significant Bitcoin whale has moved 3,500 BTC to new wallets that had been dormant for more than a decade, with the crypto winter’s impact shaking the space to its foundations.

While uncertainty looms, Bitcoin itself still stands apart from other cryptocurrencies, with crypto firm NYDIG’s chair telling readers to avoid any digital currency except Bitcoin. Bitcoin still sits at $16,900, having stayed relatively stable at around $20,000 from June until late last month.

The recent drop-off presents an opportunity for investors to play the Bitcoin market via BITI and short the flagship cryptocurrency. BITI provides inverse exposure to Bitcoin futures, a geared product with daily resets designed to operate as a short-term trading tool. The ETF has outperformed other cryptocurrency ETFs over three months and over one month, returning 3% and 16.1% respectively compared to 0.2 and -4.3% on average for the ETF Database Category.

BITI tracks the S&P CME Bitcoin Futures Index and charges 95 basis points, having launched in June. The ProShares strategy currently holds $103 million in AUM and was up 19.7% over the last five days at press time.

Whether the crypto winter is only just beginning remains to be seen, but with so much uncertainty ahead, investors looking to short Bitcoin on its up-and-down rollercoaster ride should keep an eye on BITI as a real opportunity.

For more news, information, and strategy, visit the Crypto Channel.

Loading Articles...
Our Sites
  • VettaFi
  • Advisor Perspectives
  • ETF Trends
Tools
  • ETF Screener
  • Mutual Fund to ETF Converter
  • Head-To-Head ETF Comparison
  • ETF Country Exposure Tool
  • ETF Stock Exposure Tool
  • ETF Database Pro
More Tools
  • Financial Advisor & RIA Center
Explore ETFs
  • ETF News
  • ETF Category Reports
  • Premium Articles
  • Alphabetical Listing of ETFs
  • Browse ETFs by ETF Database Category
  • Browse ETFs by Index
  • Browse ETFs by Issuer
  • Compare ETFs
Information
  • Contact Us
  • Terms of Use and Privacy Policy
  • © 2025 VettaFi LLC. All rights reserved.

Advertisement

Is Your Portfolio Positioned With Enough Global Exposure?

ETF Education Channel

How to Allocate Commodities in Portfolios

Tom LydonApr 26, 2022
2022-04-26

A long-running debate in asset allocation circles is how much of a portfolio an investor should...

Core Strategies Channel

Why ETFs Experience Limit Up/Down Protections

Karrie GordonMay 13, 2022
2022-05-13

In a digital age where information moves in milliseconds and millions of participants can transact...

}
X