Bitcoin (BTC) remains a popular institutional investment target in July, but the money is not betting on a bright future. According to data from research firm Arcane Research published July 6, institutional flows focused on products offering exposure to shorting BTC in the first week of the month. Shorting Bitcoin is the name of the game Since launching in the United States in late June, the ProShares Short Bitcoin Strategy ETF (BITI), the first exchange-traded fund (ETF) to be "short" BTC, has proved a hit. That trend has only accelerated in July, with short exposure jumping over 300% in days, …

Institutional investors loaded up on a record $51.4 million worth of investment products offering exposure to shorting the price of Bitcoin (BTC) last week. According to data from the latest edition of CoinShares’ weekly “Digital Asset Fund Flows” report, there was $64 million worth of inflows for digital asset products between June 27 and July 1, with short BTC funds representing 80% of that figure. United States-based investors accounted for the lion’s share of inflows at $46.2 million, with short-BTC investment products in solid demand after ProShares launched the first-ever U.S.-based short Bitcoin exchange-traded fund (ETF) on June 22. The …

VanEck, one of the first firms in the world to ever file for a Bitcoin (BTC) exchange-traded fund (ETF), is not giving up on its plans to launch a spot Bitcoin ETF in the United States. The firm has refiled an application for a physically-backed Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC). Filed on June 24, VanEck’s latest Bitcoin ETF application comes months after the SEC rejected its previous spot Bitcoin ETF request on November 12, 2021. The securities regulator based its decision on the ETF on its alleged inability to meet standards to protect investors and …

After Grayscale’s application to convert its Grayscale Bitcoin Trust (GBTC) into a Bitcoin (BTC) exchange-traded fund (ETF) was denied, the firm launched a legal challenge against the United States Securities and Exchanges Commission. Following these events, the community responded with various reactions, from accusing the SEC of price manipulation to suggesting different solutions. Redditor u/ThatsMRcurmudgeon2u, who introduced themself as a securities lawyer, weighed in on the matter. According to the Redditor, many anticipated the lawsuit, as SEC Chair Gary Gensler has made it clear that he wants exchanges to register with the SEC. The Redditor also accused the SEC of …

Major Dutch stock exchange Euronext Amsterdam, a part of the pan-European marketplace Euronext, is debuting its first Bitcoin (BTC) exchange-traded fund (ETF). Jacobi Asset Management, a London-based digital asset management platform, is preparing to launch its Jacobi Bitcoin ETF on Euronext Amsterdam next month, the firm announced on Thursday. The spot Bitcoin ETF will start trading on the Euronext Amsterdam Exchange under the ticker BCOIN. The Jacobi Bitcoin ETF is positioned as the first spot Bitcoin ETF launched in Europe, Jacobi founder and CEO Jamie Khurshid told Cointelegraph. "Our product is the first spot or physical-backed Bitcoin fund, and the …

21Shares, a global issuer of crypto exchange-traded products (ETPs), is taking action to respond to the current bear market by launching crypto winter-focused investment tools. The company has rolled out the 21Shares Bitcoin Core ETP (CBTC), an ETP specifically designed to offer low-cost exposure to Bitcoin (BTC) to the ongoing market sell-off. The physically-backed Bitcoin ETP started trading on the SIX Swiss Exchange on Wednesday, with a total expense ratio of 21 basis points, selected to reflect the 21 million cap on Bitcoin. According to the firm, CBTC’s ratio is 44 basis points below the next lowest product on the …

Digital asset investment products saw record outflows totaling $423 million last week, with institutional investors from Canada representing nearly all of the carnage. According to the latest edition of CoinShares’ weekly “Digital Asset Fund Flows” report, Canadian investors offloaded a whopping $487.5 million worth of digital asset products between June 20 and June 24. The total outflows for the week were partially offset by $70 million worth of inflows from other countries, with United States-based investors accounting for more than half of the inflows with $41 million. Outside of the U.S., investors from Germany and Switzerland accounted for inflows totaling …

Digital asset manager Grayscale reported overwhelming support in public comments for its application to launch a spot Bitcoin exchange-traded fund. In a Monday letter to investors, Grayscale said that of the more than 11,400 letters the United States Securities and Exchange Commission, or SEC, had received in regards to its proposed Bitcoin (BTC) investment vehicle, “99.96 percent of those comment letters were supportive of Grayscale’s case” as of June 9. According to Grayscale, roughly 33% of the letters questioned the lack of a spot BTC ETF in the U.S., given the SEC had already approved investment vehicles linked to Bitcoin …

Ethereum's token Ether (ETH) could be entering a "bull trap" zone after rebounding back above the $1,000 mark from 18-month lows of $885. Ether price paints a "rising wedge" The first among these indicators is a "rising wedge," a classic bearish reversal setup that forms after the price trends upward inside a range defined by two ascending but converging trendlines. The wedge setup gains further confirmation if the trading volume drops alongside the rising prices. Theoretically, a rising wedge resolves after the price breaks below its lower trendline and eyes a run-down toward the level at length equal to the …

The first short Bitcoin (BTC) exchange-traded fund (ETF) from ProShares got off to a very slow start on its Tuesday launch but gathered pace by increasing trading volume by 380% on day two. On launch day on Tuesday, the ProShares Bitcoin Short Strategy ETF (BITI) traded a lackluster 183,300 shares, which ETF analyst at Bloomberg Eric Balchunas noted in a tweet was “less than 1% of the volume $BITO had at this time on Day One.” However, the next day’s trading volume jumped nearly four times to 886,200 shares, worth about $36.2 million, according to Yahoo Finance. ProShares #Bitcoin short …

Canada's Purpose Bitcoin ETF (BTCC) witnessed its Bitcoin (BTC) holdings slashed by half in just one day, suggesting an alarmingly waning buying sentiment among the crypto's most-experienced investors. Purpose Bitcoin ETF has 51% of AUM slashed The fund's holdings dropped from $47,818 BTC to 23,307 BTC between June 16 and 17, its lowest level since October 2021. The 51% drop in BTC holding is also the biggest daily outflow ever. Interestingly, another Canadian crypto fund, dubbed 3iQ CoinShares Bitcoin ETF, witnessed similar outflows, dropping from 23,917 BTC on June 1 to 12,668 BTC on June 17, suggesting the Purpose's massive …

The firm behind one of the first Bitcoin futures-linked exchange-traded funds in the United States will give investors a new vehicle to bet against the price of the cryptocurrency. In a Monday announcement, exchange-traded fund issuer ProShares said its Short Bitcoin Strategy ETF would be available for trading on the New York Stock Exchange, or NYSE, starting Tuesday under the ticker BITI. The vehicle will allow U.S. investors to bet against Bitcoin (BTC) using futures contracts, given the cryptocurrency’s performance in a single day as measured by the Chicago Mercantile Exchange Bitcoin Futures Index. “BITI affords investors who believe that …