Bitcoin short ETF exists, but a spot ETF is prohibited?

I saw this link promoted in my feed.

https://www.proshares.com/fund-highlights/short-bitcoin-etf-biti/

I didn't bother looking into the fund details, but it is appalling that institutional and retail investors can apply downward pressure, but there is still yet no Spot ETF. The SEC only allows any financial instruments that suppress upward price action while claiming it's decisions are based on concerns over "market manipulation"