Garpal Gumnut
Ross Island Hotel
- Joined
- 2 January 2006
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A new ETF trading on the NYSE arca.
BITI
For those interested in shorting bitcoin with the only downside if BTC rises is losing your wager and no more than your bet, unlike selling BTC Futures nor actively shorting BTC.
It has a rather high expense ratio, close to 1%, which seems fair considering the volatility and all the dealings with the CME and mathematics way beyond this finger counter that is involved with BTC, options and futures. It is way beyond counting down dart throws to zero.
More information is available below.
https://www.proshares.com/fund-highlights/short-bitcoin-etf-biti/
https://www.proshares.com/globalassets/proshares/fact-sheets/prosharesfactsheetbiti.pdf
As always there is a catch. From the AFR.
I do hope the curlews do not wake me too early in the night. I might be tempted to use a trading account on US markets with a few kopeks in it, as I follow BTC purely as a spectator and believe it is headed to dust.
gg
BITI is not to be confused with a similar TSX listed ETF by Betashares.
gg
BITI
For those interested in shorting bitcoin with the only downside if BTC rises is losing your wager and no more than your bet, unlike selling BTC Futures nor actively shorting BTC.
It has a rather high expense ratio, close to 1%, which seems fair considering the volatility and all the dealings with the CME and mathematics way beyond this finger counter that is involved with BTC, options and futures. It is way beyond counting down dart throws to zero.
More information is available below.
https://www.proshares.com/fund-highlights/short-bitcoin-etf-biti/
https://www.proshares.com/globalassets/proshares/fact-sheets/prosharesfactsheetbiti.pdf
As always there is a catch. From the AFR.
The catch is that, like most inverse ETFs, the new product is designed for only short-term use. It returns the inverse performance of its underlying index for one day at a time, meaning it effectively resets every day. Investors who hold onto the ETF for longer periods therefore risk underperforming because of its ongoing costs.
I do hope the curlews do not wake me too early in the night. I might be tempted to use a trading account on US markets with a few kopeks in it, as I follow BTC purely as a spectator and believe it is headed to dust.
gg
BITI is not to be confused with a similar TSX listed ETF by Betashares.
gg