ProShares Trust - ProShares Short Bitcoin Strategy ETF Price & Performance (BITI)

The SEC’s approval of spot Bitcoin ETFs in early 2024 has triggered a fierce price war among issuers. Firms like Fidelity and BlackRock are slashing fees and launching promotional offers to attract investors. These ETFs, which directly hold Bitcoin, are reshaping the cryptocurrency investment landscape.12

Bitcoin’s reputation as a 'safe haven' asset is under scrutiny as it underperforms gold during economic turbulence. Analysts cite its high volatility and increased correlation with risk assets, such as tech stocks, as reasons for the shift. Institutional adoption has further entrenched its speculative nature.2

ProShares’ Bitcoin Strategy ETF (BITO) continues to attract investors by offering regulated exposure to Bitcoin futures. With a focus on CME contracts and cash reserves, BITO provides a less volatile entry point for cryptocurrency enthusiasts. Its strong liquidity and early market presence have solidified its popularity.3