Adam Back Criticizes New ETF Targeting MicroStrategy

Blockstream CEO Adam Back has publicly blasted the Defiance 2X Short MSTR ETF. He labeled the product “awful” and then questioned its longevity. The ETF wants to short MicroStrategy Incorporated, which has substantial Bitcoin portfolios. Back’s greatest problem would be the inherent threat of the ETF technique, particularly with Bitcoin so volatile and so highly linked with MicroStrategy’s stock.