{"id":180546,"date":"2023-10-25T10:36:15","date_gmt":"2023-10-25T05:06:15","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=180546"},"modified":"2023-10-25T10:36:15","modified_gmt":"2023-10-25T05:06:15","slug":"bitcoins-surge-shakes-up-etf-world-whos-soaring-and-whos-crashing-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoins-surge-shakes-up-etf-world-whos-soaring-and-whos-crashing-crypto-news\/","title":{"rendered":"Bitcoin\u2019s Surge Shakes Up ETF World: Who\u2019s Soaring And Who\u2019s Crashing? – Crypto News"},"content":{"rendered":"

<\/p>\n

A ripple of excitement has recently coursed through the crypto market, particularly on Bitcoin. Bolstered by speculation regarding the impending approval of a spot Bitcoin exchange-traded fund (ETF)<\/a> \u2014a sentiment propelled by BlackRock\u2019s iShares ETF\u2019s appearance on the DTCC website\u2014Bitcoin recorded an 18-month high trading above $35,000<\/a>. <\/p>\n

This upward movement came on the heels of a notable 10% surge on Monday.<\/p>\n

ProShares Short Bitcoin Strategy ETF: A Declining Tale?<\/h2>\n

Contrary to the general jubilance, not all BTC-related financial instruments are shared in the celebration. The ProShares Short BTC Strategy ETF, designed for traders banking on a decline in Bitcoin futures, grappled with a record low<\/a>.<\/p>\n

Just over a year ago, this fund basked in the glory of a peak value of $45.61; a zenith reached as crypto assets took a downturn in the aftermath of FTX\u2019s collapse. <\/p>\n

However, this year, the ProShares Short Bitcoin Strategy ETF has faced challenges, its value diminishing by 59.3% to stand at $16.68, a historic nadir, at the time of writing.<\/p>\n

This dip didn\u2019t deter investors. Despite the drop, the ProShares Short BTC ETF, boasting net assets of $62.98 million, is poised for its second consecutive month of inflows, according to data from Lipper. <\/p>\n

Lucas Kiely, the Chief Investment Officer at digital wealth platform Yield App, offered a perspective on this trend. He posited that the market might be \u201cbuying the rumor and selling the fact.\u201d Kiely further elaborated that the BTC short ETF provides investors a unique opportunity to speculate on a potential BTC sell-off.<\/p>\n

The Chief Investment Officer noted:<\/p>\n

\n

A lot of people think this rally is a short squeeze \u2013 we have no real news coming out and a lot of anticipation around the SEC\u2019s approval or disapproval of these spot ETFs and people are getting ahead of themselves. Ultimately, the market is again buying the rumor and selling the fact and the BTC short ETF is the only way for investors to express the view BTC is going to sell off.<\/p>\n<\/blockquote>\n

Furthermore, Kiely suggested another motive behind investors\u2019 moves. With the surge in BTC\u2019s value, some might be seeking to \u201clock in\u201d their profits and, hence, are turning to the ETF as a hedge against potential future downturns.<\/p>\n

Other BTC-Related ETFs Enjoy The Rise<\/h2>\n

Conversely, some BTC-associated ETFs rode the wave of optimism<\/a>. The ProShares Bitcoin Strategy ETF, mirroring BTC futures alongside the Valkyrie Bitcoin Miners ETF, registered gains of 7.68% and 6.54%, respectively, over the past day.\u00a0<\/p>\n

Leading the pack among recently introduced funds that track Ethereum (ETH )futures was the Valkyrie Bitcoin and Ether Strategy ETF, with a commendable 7.64% uptick over the same period.<\/p>\n

Furthermore, BTC has retraced from its recent traded high of $35,000<\/a> and currently trades at $33,746, at the time of writing, still up 9.2% in the last 24 hours.<\/p>\n

\"Bitcoin<\/p>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

A ripple of excitement has recently coursed through the crypto market, particularly on Bitcoin. Bolstered by speculation regarding the impending approval of a spot Bitcoin exchange-traded fund (ETF) \u2014a sentiment propelled by BlackRock\u2019s iShares ETF\u2019s appearance on the DTCC website\u2014Bitcoin recorded an 18-month high trading above $35,000. This upward movement came on the heels of […]<\/p>\n","protected":false},"author":2,"featured_media":130857,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-180546","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=180546"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180546\/revisions"}],"predecessor-version":[{"id":180547,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/180546\/revisions\/180547"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/130857"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=180546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=180546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=180546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}