Beyond IBIT: A sports betting ETF bitcoin traders may want to watch

CoinDesk reports a strong positive correlation between bitcoin (BTCUSD) and the Roundhill Sports Betting & iGaming ETF (BETZ), with a 365-day correlation coefficient of 0.91 and a 90-day coefficient of 0.73. BETZ has historically tended to peak and trough several weeks to months before bitcoin, suggesting the ETF can act as a sentiment/liquidity proxy and potential early signal for BTC trend changes. The relationship supports the view of bitcoin as a risk-sensitive macro asset rather than a safe haven. Recent short-term decoupling of BETZ from rising BTC prices is flagged as a watch-worthy signal, not a definitive predictor.