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Cryptocurrencies: Bitcoin Finishes October Up 29%

Cryptocurrencies: Bitcoin Finishes October Up 29%
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Fund tracking inverse of bitcoin futures hits all-time low as cryptocurrency rallies

Physical representations of the bitcoin cryptocurrency are seen in this illustration taken October 24, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing…

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Bitcoin Surge Shakes Up ETF World: Who's Soaring And Who's Crashing?

Bitcoin Surge Shakes Up ETF World: Who's Soaring And Who's Crashing?
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Cryptocurrencies: Bitcoin's Price Doubles in 2023

Cryptocurrencies: Bitcoin's Price Doubles in 2023
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Fund tracking inverse of bitcoin futures hits all-time low as cryptocurrency rallies

The ProShares Short Bitcoin Strategy ETF, which allows traders to bet on a fall in bitcoin futures, hit a record low on Tuesday as the cryptocurrency surged on growing optimism that the launch of an exchange-traded fund tracking bitcoin is imminent. Bitcoin, the world's largest cryptocurrency, hit an 18-month high on Tuesday, extending Monday's 10% surge, on speculation over the likely approval of a spot bitcoin ETF that was fueled by BlackRock's iShares ETF listing on the website of clearing house DTCC. The ProShares fund had hit its peak of $45.61 a little over a year ago as crypto assets tumbled following the collapse of FTX, but struggled to hold on to gains this year amid the sharp recovery in bitcoin.

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