It's been possible for years to short Bitcoin on reputable exchanges. For example Coinbase and Gemini, to name two of the most regulated and compliant US-based

It's been possible for years to short Bitcoin on reputable exchanges. For example Coinbase and Gemini, to name two of the most regulated and compliant US-based exchanges... unlike FTX which was not in the same category, and definitely sketchy. What the ETFs do is not so much help bears place their bets. The ETFs simply make the asset more accessible, to a broader pool of traders, who now don't have to sign up to crypto exchanges, but can trade from their usual brokerage firm.