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Reverse Bitcoin ETF Launched in Canada


Horizons ETFs Management has launched the BetaPro Inverse Bitcoin ETF, the world’s first reverse exchange-traded Bitcoin fund that allows investors to short cryptocurrencies.

The BetaPro Inverse Bitcoin ETF (ticker BITI) provides up to 100% inverse daily performance of the Horizons Bitcoin Front Index, which “mimics the gains generated over time from long-term contingent investments in Bitcoin futures.”

The fund charges a management fee of 1.45%.

Launched by the company in the package, another product, BetaPro Bitcoin ETF (ticker HBIT), tracks the performance of futures for the first cryptocurrency. The service fee is 1%.

“Interest in Bitcoin has grown tremendously in the past year, but it is an asset class that has historically been very volatile and difficult for investors, especially when compared to buying ETFs. HBIT and BITI provide ETF options with daily liquidity, which allows investors to go long or short by asset class, ”explained Steve Hawkins, President and CEO of Horizons ETFs.

The company’s bitcoin ETF is traded on the Toronto Stock Exchange (TSX).

Recall that in February, Canada was the first in the world to approve an exchange-traded fund based on the first cryptocurrency. In April, the country’s regulators gave permission to launch similar products based on Ethereum, confirming their leadership in the implementation of cryptocurrency exchange-traded investment instruments.

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