World's First Short Bitcoin ETF Sees Exposure Explode 300% in Days

Since its launch last month, the ProShares Short Bitcoin Strategy ETF (BITI) has eclipsed the others in terms of inflows.

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Bitcoin (BTC) remains a popular institutional investment target in July, but money isn't betting on a bright future.

According to data from research firm Arcane Research released on 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 its launch in the United States at the end of June, the ProShares Short Bitcoin Strategy ETF (BITI), the first exchange-traded fund (ETF) to "short" BTC, has been very successful.

This trend only accelerated in July, with short exposure jumping over 300% in a matter of days, the data confirms.

“BITI, the first inverse BTC ETF, made further progress last week,” Arcane summed up in the comments on Twitter.

"After becoming the second bitcoin-linked BTC ETF in the US after just four days of trading, net short exposure has grown even further and increased by more than 300% in the past week."

ProShares Short Bitcoin Strategy ETF (BITI) Exposure Chart. Source: Arcane Research/ Twitter

The moment for BITI in the US is self-evident, as BTC/USD hit a multi-year low of $17,600.

As Cointelegraph reported, analyst expectations remain