Bitcoin’s dominant showing in 2023 is leaving exchange-traded fund investors divided on what’s next for the world’s biggest cryptocurrency.
The $149 million ProShares Short Bitcoin Strategy ETF (ticker BITI), which tracks the inverse performance of Bitcoin, has absorbed more than $118 million so far this year despite a 47% drawdown. That’s a bigger haul than its bullish — and much bigger — sibling, the $1 billion ProShares Bitcoin Strategy ETF (BITO), which has attracted $89 million amid a 60% surge this year.
