{"id":358450,"date":"2021-10-27T05:47:15","date_gmt":"2021-10-27T02:47:15","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/new-bitcoin-etfs-filed-one-for-bears-the-other-with-leverage-for-ants\/"},"modified":"2021-10-27T05:47:15","modified_gmt":"2021-10-27T02:47:15","slug":"new-bitcoin-etfs-filed-one-for-bears-the-other-with-leverage-for-ants","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/new-bitcoin-etfs-filed-one-for-bears-the-other-with-leverage-for-ants\/","title":{"rendered":"# New Bitcoin ETFs filed: One for bears, the other with \u2018leverage for ants\u2019"},"content":{"rendered":"

“# New Bitcoin ETFs filed: One for bears, the other with \u2018leverage for ants\u2019 <\/strong>”
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Exchange-traded fund issuer Direxion has filed for a product that would enable speculators to buy contracts that short the price of Bitcoin.<\/p>\n

In a filing<\/a> made to the U.S. Securities and Exchange Commission on Oct. 26, the company unveiled the Direxion Bitcoin Strategy Bear ETF. Like other futures products, it will not invest directly in BTC, but will instead maintain managed short exposure position contracts issued by the Chicago Mercantile Exchange (CME).<\/p>\n

Direxion stated that the fund may invest in other BTC futures, money market funds, deposit accounts, or short-term debt instruments. However, the firm did issue a dire warning that the value of the product could go to zero.<\/p>\n

\u201cThe value of an investment in the Fund could decline significantly and without warning, including to zero. You should be prepared to lose your entire investment.\u201d<\/p><\/blockquote>\n

Bloomberg senior ETF analyst Eric Balchunas described it as an inverse Bitcoin ETF. He reported that the company already has a ‘-1x BTC futures ETF’ in Canada called BITI, adding \u201cwhile it\u2019s gotten pretty wrecked, when it works it WORKS (as Bitcoin tends to sells off fast).\u201d<\/p>\n

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INVERSE BITCOIN ETF: Direxion just filed for a -1x Bitcoin Futures ETF, which will seek to be short front month bitcoin futures, basically the $XIV<\/a> of $BITO<\/a>.. This comes mere hours after the first levered bitcoin ETF was filed. pic.twitter.com\/bN2m7pIZw5<\/a><\/p>\n

\u2014 Eric Balchunas (@EricBalchunas) October 26, 2021<\/a><\/p><\/blockquote>\n