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Beyond IBIT: A sports betting ETF bitcoin traders may want to watch
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Alternative investment vehicles such as exchange-traded funds (ETFs), led by BlackRock's IBIT, hold sway over bitcoin's price.
Key facts
- The fund debuted in June 2020 and has since attracted only $98 million in net inflows
- But another ETF from the betting world has been moving in lockstep with bitcoin’s BTC $ 80,984.66 cycles since 2020, with an interesting pattern that, to the naked eye, appears to show leading
- The 90-day correlation coefficient between the two assets was 0.73 at press time, according to data from TradingView
- That translates into an R² of approximately 0.83, implying that over 80% of the variation in the two assets’ movements is statistically linked
Summary
The Roundhill Sports Betting & iGaming ETF (BETZ) has shown a strong positive correlation with bitcoin, with a 365-day correlation coefficient of 0.91. Historically, BETZ has tended to peak and bottom weeks before bitcoin, with notable leads around the 2021 top and 2022 bottom, as well as in 2025. The BETZ-BTC relationship reinforces the view of bitcoin as a risk-sensitive macro asset rather than a safe haven. But another ETF from the betting world has been moving in lockstep with bitcoin’s BTC $ 80,984.66 cycles since 2020, with an interesting pattern that, to the naked eye, appears to show leading signals for BTC trend changes.