Geared (leveraged or short) ProShares ETFs seek returns that are a multiple of (e.g., 2x or -2x) the return of a benchmark (target) for a single day, as measured from one NAV calculation to the next.Due to the compounding of daily returns, ProShares' returns over periods other than one day will likely differ in amount and possibly direction from the target return for the same period. ProShares Short Bitcoin ETF - How it Works | The Options Bro Jan 09, 2018 · ProShares short bitcoin ETF will move inversely to the price of bitcoin; Bitcoin ETFs are arguably the safest way to short bitcoin, especially for large investors; ETFs function almost exactly like stocks, except there is a small annual management fee; Although the ProShares short bitcoin ETF isn’t ready yet, shorting the Bitcoin Investment