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The ProShares Short Bitcoin Strategy ETF , a fund which allows traders to short bitcoin futures, has hit a record low as the cryptocurrency surged on optimism of an imminent launch of a Bitcoin exchange-traded fund. Apex crypto Bitcoin has hit an 18-month high on speculations 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. A year ago, the ProShares fund hit its peak of $45.61 as crypto assets tumbled following the collapse of FTX. The fund fell nearly 10% to $16.18 in early trading, hitting a record low, and has shed 59.3% so far this year. Other bitcoin-linked ETFs, like the ProShares Bitcoin Strategy ETF that tracks bitcoin futures, and Valkyrie Bitcoin Miners ETF, gained more than 9% each.
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