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Finding bright spots in the bitcoin bear market

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Despite a tumultuous year for cryptocurrencies and their trading platforms, there remains a bright spot in the space: bitcoin futures ETFs.  

The funds have seen record trading volume in 2022, while still operating smoothly in a regulated market. The ProShares Bitcoin Strategy ETF (BITO) hit a trading record on Nov. 8, surpassing its previous record by 64%. And volume for ProShares Short Bitcoin Strategy ETF (BITI) also on Nov. 8 spiked 366% higher than any day since its launch, according to ProShares. 

BITO remains the largest of the crypto funds, while BITI offers an inverse strategy for investors betting against bitcoin. These types of ETF structures, coupled with futures, have performed well amid a backdrop of crypto volatility.  

“That’s not surprising because think back to the time of Covid and high volatility,” Deborah Fuhr, founder and managing partner of ETFGI, told Bob Pisani on CNBC’s “ETF Edge” on Monday. “People thought fixed income ETFs weren’t going to work, and they did. So, the ETF wrapper works well.” 

ETFs operate as an ecosystem, Fuhr said, as highly…

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