On Tuesday, ProShares made a significant move in the cryptocurrency space by launching two innovative exchange-traded funds (ETFs): the Ultra Bitcoin ETF, with the ticker BITU, and the Ultrashort Bitcoin ETF, labeled SBIT.

The BITU ETF aims to offer investors twice the daily returns of Bitcoin (CRYPTO:BTC), effectively betting on the cryptocurrency's positive performance.

In contrast, SBIT is engineered to yield twice the opposite of Bitcoin's daily returns, catering to those anticipating a decline in its value.

These introductions by ProShares present new opportunities for both bullish and bearish investors to engage with Bitcoin through the traditional stock market, reflecting the growing interest and integration of cryptocurrency in mainstream financial structures.