The tradeable bitcoin ETF is listed on the Toronto Stock Exchange (TSX) under the ticker BITI. The BITI fund tracks the inverse performance of bitcoin through its holdings in the ProShares Short Bitcoin ETP. According to crypto derivatives data provider Skew, Biti reached a high of 6.2 million Canadian dollars (C$) on July 22, which is more than twice its launch volume at C$3 million.
The heavy buying volume coincided with liquidations of leveraged long positions in BTC futures, reaching an eight-day high at $239 million, according to data from crypto analysis firm Glassnode. Per Glassnode, the highest liquidations seen since last year’s March crashes were mostly associated with BitMex, followed by Binance and OKEx.
The tradeable bitcoin ETF is on the Toronto Stock Exchange (TSX) under the ticker BITI. The BITI fund tracks the inverse performance of bitcoin through its holdings in the ProShares Short Bitcoin ETP.
The BITI ETF is a Short Bitcoin ETF. The fund tracks the inverse performance of bitcoin through its holdings in the ProShares Short Bitcoin ETP. This itself is a leveraged exchange-traded note (ETN) that trades on the Toronto Stock Exchange (TSX)
According to crypto derivatives data provider Skew, Biti reached a high of 6.2 million Canadian dollars (C$) on July 22, which is more than twice its launch volume at C$3 million.
The ProShares Short Bitcoin ETF is a fund that tracks the inverse performance of bitcoin. However, its holdings in the ProShares Short Bitcoin ETP. The ETF has seen its trading volume increase significantly since it launched on July 10. It is rising from C$3 million to C$6.2 million last week alone.
According to crypto derivatives data provider Skew, Biti reached a high of 6.2 million Canadian dollars (C$) on July 22. The volume is more than twice its launch volume at C$3 million. The recent spike in trading volume coincides with increased demand from longs. They are liquidating their positions due to market volatility following news about a potential SEC approval for a UBS Winklevoss ETF application earlier this month (the ruling was later rescinded).
The heavy buying volume coincided with liquidations of leveraged long positions in BTC futures. It is reaching an eight-day high at $239 million, according to data from crypto analysis firm Glassnode.
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