Crypto
BETZ ETF draws attention for signalling bitcoin highs and lows
The sports betting exchange-traded fund BETZ, which has shown high correlation with bitcoin, is drawing attention as a new secondary market indicator. The ETF has tracked a similar cycle to bitcoin since 2020 and in some phases formed highs and lows earlier than bitcoin. Data show 90-day and 365-day correlations of 0.73 and 0.91, though the relationship does not necessarily imply causation.
