ProShares’s latest ETF lets you bet against Bitcoin

Illustration by Alex Castro / The Verge

Good news can be found for people who find bad news. You will be able to buy an exchange-traded fund based on shorting Bitcoins. When the New York Stock Exchange opens tomorrow, June 21, there will be an exchange traded fund that will allow you to bet against the digital currency.

In October, the SEC approved a futures Bitcoins exchange traded fund. Along with some of the biggest growth, it made its debut. Major losses have been suffered by Cryptocurrencies, with the exception of stable coins.

The SEC has approved an exchange traded fund that can be used to short Bitcoins, but it hasn't yet approved an exchange traded fund that will allow you to trade it. The SEC says that you can either bet against or bet on the future of the digital currency. The SEC has lost the forest for the trees according to the analyst on the show. While it will occasionally approve the one debuting tomorrow, it has so far been reluctant to approve the spotBitcoinETF, which would allow you to invest directly in the virtual currency. That leaves investors to rely on weird apps and know the ins and outs ofcryptocurrencies.

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Just because you can bet against the future of the digital currency with an exchange traded fund doesn't mean everything is going to be okay. "Of course, there can't be any guarantees, but based on how the futures market has been tracking the spot market, we are confident that the inverse product will track well as well." As the market reacts, we will have to see if the assessment held true.