You’ll be able to bet against Bitcoin with an ETF, before you can buy a Bitcoin ETF

There’s good news for people who find bad news about crypto to be good. Starting tomorrow, you’ll be able to buy an exchange-traded fund based on shorting Bitcoin. The financial firm ProShares will debut the first ETF to let you bet against Bitcoin, and it’s set to be listed on the New York Stock Exchange when the bell opens tomorrow, June 21, under the ticker BITI.

The SEC previously approved a futures Bitcoin ETF, also from ProShares, in October. It debuted alongside some of the biggest growth Bitcoin has seen. Now, cryptocurrencies have been severely struggling, with Bitcoin, Ethereum, and even stablecoins all suffering major losses.

What’s funny about the SEC’s approval of an ETF that can be used to short Bitcoin is that it has not yet approved an ETF that actually allows you to trade Bitcoin itself. According to the SEC, you can bet on Bitcoin’s future, bet against it, or... that’s about it. On the podcast Crypto Critics’ Corner Bloomberg Intelligence ETF Analyst James Seyffart said “The SEC has essentially lost the forest for the trees”. While it will occasionally approve Bitcoin-related ETFs such as the one debuting tomorrow, it has thus far been reluctant to approve spot Bitcoin ETFs, which would let you invest in Bitcoin more directly. That leaves investors interested in Bitcoin relying on weird apps and knowing the ins and outs of crypto-wallets.

Now, just because you can gamble against Bitcoin’s future with an ETF doesn’t mean everything is all downhill from here for Bitcoin hopefuls and the many meme and retail investors who’ve latched their own stars to the cryptocurrency. “Of course, there can’t be any guarantees,” Michael Sapir, chief executive of ProShares told the Wall Street Journal, “but based on how the futures market has been tracking the spot market, we are optimistic that the inverse product will track well as well.” We’ll have to see if Sapir’s assessment holds true as the market reacts.

Source: The Verge

Apple and Meta Reportedly Discussed AI Partnership for iOS 18

Apple has held discussions with Meta about integrating the Facebook owner's AI model into iOS 18 as part of its Apple Intelligence feature set, according to a report over the weekend. Meta launched Llama 2, its large language model, in July 2023, and in April, the company released the latest versions of its AI models, called Llama 3 . The Wall Street Journal reports that the two longtime rivals have held talks about offering Meta's model as an additional option to OpenAI's ChatGPT. The paywalled report notes that the discussions haven't been finalized and could fall through. As part of Apple Intelligence, Apple has announced a partnership with OpenAI that will allow Siri to access ChatGPT directly in iOS 18, iPadOS 18, and macOS Sequoia to provide better responses in relevant situations. Using ChatGPT will be optional, so users with concerns about the technology can abstain and still make use of Apple's own new AI features. Speaking at WWDC 2024, Apple's

Here Are the macOS Sequoia Features Intel Macs Won't Support

When Apple released macOS Monterey in 2021, some key features required a Mac with Apple silicon. The same scenario played out with macOS Ventura in 2022, and then again the following year with the release of macOS Sonoma. With macOS Sequoia set to arrive in the fall, which new features can Intel Mac owners expect to be unavailable to them this time around? Apple says that macOS Sequoia is compatible with the same Macs as macOS Sonoma, but Apple's fine print reveals that certain new features won't work on Intel machines. If you're still on an Intel Mac, here's what you won't have access to. Apple Intelligence Apple Intelligence , a deeply integrated, personalized AI feature set for Apple devices that uses cutting-edge generative artificial intelligence to enhance the user experience, won't be available on Intel Macs. Apple says the advanced features require its M1 chip or later, so if your Mac was released before November 2020, you're out of luck. T

iPhone 16 Pro Models to Adopt 'M14' Advanced Samsung OLED Panels for Improved Brightness and Lifespan

The upcoming iPhone 16 Pro and iPhone 16 Pro Max will be the first Apple smartphones to adopt Samsung's high performance "M14" OLED display panel, claims a new report coming out of South Korea. According to ETNews , Samsung's "M" series of OLED panels are made for flagship smartphones, while "14" refers to the number of high-performance materials used to produce them. "M14" is the first series of its kind, and the panel is said to have been developed to deliver superior brightness and longevity. Samsung has reportedly placed orders for the M14 materials and is preparing to mass produce the displays in the second half of the year for Apple's iPhone 16 Pro models. Google's Pixel 9 smartphone is the only other device that is expected to adopt the high-performance displays in 2024. A previous report out of China claimed that this year's ‌iPhone 16 Pro‌ models will feature up to 1,200 nits of typical SDR brightness – a 20%

Apple Boosts A18 Chip Orders in Anticipation of High iPhone 16 Demand

Apple is said to have upped its order of next-generation chips from TSMC to between 90 million and 100 million units, following heightened demand expectations for its iPhone 16 series. Last year's initial chip order volume for the iPhone 15 series launch is believed to have been in the region of 80-90 million units, suggesting Apple is anticipating higher demand for its 2024 devices, according to Taiwanese outlet CTEE . The arrival of Apple Intelligence in iOS 18 is expected to boost initial sales of the devices. One of the reasons is that Apple Intelligence requires at least an iPhone 15 Pro to run, which means owners of last year's iPhone 15 and iPhone 15 Plus will miss out on Apple's new AI features unless they upgrade to an iPhone 15 Pro or plump for one of the iPhone 16 models. Last year, the iPhone 15 and iPhone 15 Plus were equipped with the A16 Bionic chip – the same chip that was in the iPhone 14 Pro models – whereas the iPhone 15 Pro and iPhone 15 Pro Max f

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