Canada launches first reverse bitcoin ETF

Canada launches first reverse bitcoin ETF

Horizon ETF Management Launched The Betapro Inverse Bitcoin ETF is the world’s first reverse exchange-traded bitcoin fund that allows investors to have small cryptocurrencies.

The Betapro Inverse Bitcoin ETF (Ticker BITI) provides a 100% inverse daily performance of the Horizon Bitcoin Front Index, which “mimics the profit generated from long-term contingent investments in bitcoin currencies.”

The fund charges a management fee of 1.45%.

Another product, Betapro Bitcoin ETF (Ticker HBIT), launched by the company in the package, tracks the performance of futures for the first cryptocurrency. The service fee is 1%.

“Interest in bitcoin has increased significantly over 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 offer ETF options with daily liquidity, which allows investors to go long or short by asset class, ”explained Steve Hawkins, President and CEO of Horizon ETF.

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

Let’s remind you, February in Canada Was the first in the world to approve Exchange-traded funds based on the first cryptocurrency. In April, the country’s regulators gave Launch permit Similar products, based on Ethereum, confirm leadership in the implementation of cryptocurrency exchange-traded investment instruments.

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About the author: Seth Grace

Seth is an all-around geek who loves learning new stuff every day. With a background in Journalism and a passion for web-based technologies and Gadgets, she focuses on writing about on Hot Topics, Web Trends, Smartphones, and Tablets.

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