Search results for ProShares
Crypto
No bitcoin summer bull market, analyst sees 3 to 5 months of sideways trade
Market talk is resurfacing that bitcoin is less likely to rebound this summer. Veteran trader Peter Brandt cites a chart for ProShares UltraShort Bitcoin ETF SBIT, which bets on bitcoin declines, as suggesting further downside pressure if a technical reversal pattern plays out. Another analyst, Bob Loukas, says the market remains in a bearish phase and may need 3 to 5 months of choppy sideways trading to build a base for the next cycle.
Crypto
Strategy bitcoin sale rattles market as \'never sell\' narrative breaks
Strategy’s sale of 32 bitcoin has shaken the market premise that corporate bitcoin treasury strategies mean never selling. Cointelegraph said it was the company’s first disclosed cash-out aside from a 2022 tax-related transaction. While the amount was small relative to its holdings, investors revisited assumptions and MSTR shares fell sharply. Separately, JPMorgan CEO Jamie Dimon opposed the latest Clarity Act revision, and France’s Capital B sought approval for large fundraising plans for future bitcoin purchases.
Crypto
ProShares launches Treasury ETF to meet GENIUS Act, targeting stablecoin reserves
ProShares has launched the GENIUS Money Market ETF to meet stablecoin reserve requirements under the GENIUS Act, Cointelegraph reported on Feb. 19. The ETF invests only in short-term U.S. Treasuries and is designed to comply with rules for high-quality short-term assets. It uses a floating net asset value and trades in real time on an exchange, with same-day settlement and dual NAV features.
