28 Aug '17, 5pm

Bitcoin Short: ETF Firm Rex Eyes Downside Potential With New Fund Launch

A new bitcoin investment fund launched last week in the US is part of a wider strategy that includes a planned effort to offer institutional investors a way to short the market. Last week, CoinDesk reported that REX ETF, an investment firm based in Connecticut, had launched a fund that plans to invest primarily in bitcoin futures and other derivatives without actually buying direct exposure to the cryptocurrency. In announcing the move, REX indicated that it would seek to launch multiple investment products built around the tech. Additional public filings reveal that at least one of those products is already in the pipeline. According to a filing from last week, the "REX Short Bitcoin Strategy ETF" will be similar in scope – relying on financial derivatives of bitcoin and not the cryptocurrency itself – but with the aim of shorting the market. When short selling, investors...

Full article: https://www.coindesk.com/bitcoin-short-etf-firm-rex-eyes-...

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