PANews reported on April 2 that according to Businesswire reports, ETF provider ProShares announced the launch of ProShares Ultra Bitcoin ETF (BITU), which is the first ETF product designed to track Bitcoin’s intraday 2x return target. At the same time, ProShares also launched the ProShares UltraShort Bitcoin ETF (SBIT), which is the first ETF to track Bitcoin’s intraday -2x return target. BITU and SBIT are listed on the New York Stock Exchange and aim to solve the challenges of acquiring leveraged or shorting Bitcoin.
