Bitcoin: Short BTC ETFs returns are negative despite price fall
According to a new report by Arcane Research, short Bitcoin ETF’s AUM (asset under management continues to remain high. In November, the short ETF BITI offered by ProShares saw enormous inflows. Its short exposure increased to new all-time highs on November 9 following a daily inflow of 2,730 BTC. The following days saw more significant inflows, with the ETF’s short exposure to BTC climaxing on November 28 at 7,890 BTC. The ETF has since seen significant outflows, but the AUM is still high because the short exposure is at 6,230 BTC, significantly higher than this summer’s heights. Despite Bitcoin’s drop outperforming a naked BTC short by 22.24%, BITI has produced negative returns since its introduction in June due to the ETF’s structure. Source: Arcane Research Bitcoin short ETF now seeing outflows? The Arcane study noted that, recently, inflows have changed to outflows. A total of 860 BTC worth of outflows were recorded on November 30 for BIT...