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ETFs

ProShares Short Bitcoin Strategy ETF

BITI
$--
Today’s Change
-- (--)

Snapshot
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Inception Date
Jun 21 2022
Expense Ratio
0.95%
Type
Global Cryptocurrency
Fund Owner
ProShares
Volume (1m avg. daily)
$23,667,887
AUM
$74,163,716
Associated Index
S&P CME Bitcoin Futures Index
Inverse/Leveraged
Inverse (-1)
Passive/Active
Passive
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

n/a
Derivatives offset
99.80%
n/a
TREASURY BILL
53.58%
n/a
Net Other Assets (Liabilities)
46.42%
Invest with BITI

What is BITI?

This short ProShares ETF seeks a return that is -1x the return of its underlying benchmark (target) for a single day, as measured from one NAV calculation to the next. The fund provides an opportunity to profit when the daily price of bitcoin declines. The Fund seeks to invest in cash settled, front month bitcoin futures. The Fund may also invest in back month, cash settled bitcoin futures contracts. Front month bitcoin futures contracts are those contracts with the shortest time to maturity. Back month bitcoin futures contracts are those with longer times to maturity.

ETFs related toBITI

ETFs correlated to BITI include SARK, FNGD, QID

BITI
ProShares Trust - ProShares Short Bitcoin Strategy ETF
SARK
Investment Managers Series Trust II - AXS Short Innovation Daily ETF
FNGD
Bank of Montreal - MicroSectors FANG+ Index -3X Inverse Leveraged ETNs
QID
ProShares Trust - ProShares UltraShort QQQ -2x Shares
PSQ
ProShares Trust - ProShares Short QQQ -1x Shares
SQQQ
ProShares Trust - ProShares UltraPro Short QQQ -3x Shares
HDGE
Advisorshares Trust - Ranger Equity Bear -1x Shares
BERZ
Bank of Montreal - MicroSectorsTM Solactive FANG & Innovation -3X Inverse Leveraged ETNs
HIBS
Direxion Shares ETF Trust - Direxion Daily S&P 500 High Beta Bear 3X Shares
SRS
ProShares Trust - ProShares UltraShort Real Estate -2x Shares
SPXS
Direxion Shares ETF Trust - Direxion Daily S&P 500 Bear -3X Shares

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

BITI is a Global Cryptocurrency ETF. This short ProShares ETF seeks a return that is -1x the return of its underlying benchmark (target) for a single day, as measured from one NAV calculation to the next. The fund provides an opportunity to profit when the daily price of bitcoin declines. The Fund seeks to invest in cash settled, front month bitcoin futures. The Fund may also invest in back month, cash settled bitcoin futures contracts. Front month bitcoin futures contracts are those contracts with the shortest time to maturity. Back month bitcoin futures contracts are those with longer times to maturity.

BITI tracks the S&P CME Bitcoin Futures Index.

No, BITI is not actively managed. It is passively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

Yes, BITI is passively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on BITI is -0.0178%. This is the percent change in the value of BITI over the most recent 1-month period. The 3-month return on BITI is 0.1542%. This is the percent change in the value of BITI over the most recent 3-month period.

The standard deviation of BITI for the past year is 0.5483%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to BITI include CEFD, PFFL, and MLPR.

ETFs correlated to BITI include SARK, FNGD, and QID.

ETFs that are inversely correlated to BITI include BITO, BITX, and BTF.

Yes, BITI is a Inverse (-1) ETF: This means that BITI will try to match the performance of S&P CME Bitcoin Futures Index, but with 1x the returns.

Yes, BITI is a Inverse (-1) leveraged ETF: This means that {characteristics.Identifier} will try to match the performance of S&P CME Bitcoin Futures Index, but move 1x in the opposite direction.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

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We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.