Proshares dismissed concerns that the cost of tracking futures would erode the performance of its bitcoin futures-linked ETF, sheldonreback and godbole17 report in First Mover Americas.
ProShares, the issuer of the first U.S. bitcoin futures-linked exchange-traded fund , said concerns that costs associated with trading of the derivatives would lead toThe ProShares Bitcoin Strategy Fund began trading on the New York Stock Exchange in October, 2021, allowing investors to gain exposure to bitcoin without having to actually own the cryptocurrency.
Cryptocurrencies slid Thursday with bitcoin dipping to as low as $29,593 during U.S. afternoon hours, near itsEther buckled below $1,900 to change hands 1% lower than 24 hours before. LINK, the native token of the Chainlink ecosystem, defied the slump and was the only crypto asset with sizable gains among the 40 largest tokens by market capitalization.
Coinbase Borrow, a program that allowed customers to receive regular currency loans of up to $1 million against their bitcoin holdings,The company will instead focus its resources on products that “customers care about most,” a spokesperson told CoinDesk. Customers who hold loans through the program have until Nov. 20 to pay back any outstanding loan balances.
On Tuesday, centralized exchanges received a net 78,861.9 ETH, the highest single-day inflow since May 1.
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