TechFlow reported that ETF provider ProShares has launched the ProShares Ultra Bitcoin ETF (BITU), designed to deliver twice the daily return of bitcoin, and the ProShares UltraShort Bitcoin ETF (SBIT), aiming to deliver twice the inverse of bitcoin's daily return.
ProShares CEO Michael L. Sapir said: "BITU and SBIT address the challenge of gaining leveraged or short exposure to bitcoin by offering a more convenient and efficient ETF solution."
BITU and SBIT are listed on the New York Stock Exchange and are suitable for investors seeking leveraged or short exposure to bitcoin.
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