IBIT Short Positions Plummet, Analyst Reports

Analyst Eric Balchunas from Bloomberg ETF has revealed on social media that short positions in the IBIT ETF have experienced a substantial decline. Initially, these positions were modest at just 2% of the outstanding shares, but they are now nearing levels observed prior to the April rally. S3 Partners further highlights that traders typically engage in short selling when stock prices are performing well and then cover their bets as prices decline. This analysis also included other relevant ETFs for comparative reference.