Defiance ETFs has announced the launch of The Defiance Daily Short Digitizing the Economy ETF (IBIT). 

Defiance ETFs writes that IBIT enters short positions of the Amplify Transformational Data ETF (BLOK), an actively managed ETF that offers exposure to companies in the crypto and blockchain ecosystem.

“We remain highly bullish on the growth of crypto and the digital asset ecosystem over the next few years. However, given the recent onset of the crypto winter – the flood of layoffs and revenue losses – we believe shorting positions such as Coinbase, Galaxy and Robinhood, along with those involved in the metaverse, like Meta and Roblox, will provide downside protection in the current environment,” says Sylvia Jablonski, CEO and CIO of Defiance ETFs.