Capital Management Firm ProShares Files Application with SEC to Launch Shorting Bitcoin Futures ETF

Asset management firm ProShares filed an application with the U.S. SEC on Tuesday for a planned shorting bitcoin futures ETF.

According to the filing with the SEC, ProShares' planned ProShares Short Bitcoin Strategy ETF (ticker: BITO) would track the inverse performance of the Chicagoland Bitcoin Futures Index.

If given regulatory approval, the ETF would be the first shorted bitcoin futures ETF to be traded in the U.S.

This follows the launch of ProShares' first U.S. bitcoin futures ETF (ProShares Bitcoin Strategy ETF (NYSE:BITO)) in October of last year. Since its launch, this ETF has accumulated a 32% decline.