Bitcoin’s new “reverse” ETF already enables investors to cut the BTC price

Canadian Bitcoin (BTC) investors have two more exits on BTC exposure this weekand now they can even bet on a fall in prices.

In a press release dated April 14th Horizons ETFs management confirmed that the two new Exchange Traded Funds (ETFs) will be trading on the Toronto Stock Exchange on Thursday..

Horizons: Bitcoin Has “Polarizing Opinions”

Pioneer already in the regulated institutional investment area for Bitcoin, Canada has now released the first fund of its kind to deal with Bitcoin price losses rather than gains..

Bitcoin’s new “reverse” ETF already enables investors to cut the BTC price
Bitcoin’s new “reverse” ETF already enables investors to cut the BTC price

Name the BetaPro Inverse Bitcoin ETF (BITI), The fund enables investors to sell Bitcoin futures. More than a sign of a bearish mood Executives describe the offering as a way to capture episodes of price volatility.

Its brother, the BetaPro Bitcoin ETF (HBIT), will work in the more traditional senseand complements the short opportunity.

“We know that there are polarized views on Bitcoin and consequently there are investors with a high level of conviction in both bullish and bearish cases for this asset class.”Steve Hawkins, President and CEO of Horizons ETFs, said in the statement.

“With the introduction of HBIT and BITI, our goal is to provide investment vehicles that allow investors to have liquid access to the returns of Bitcoin futures, with the asset class being able to hold long or short positions depending on your perspectives and beliefs . ”

ETFs are in great demand

The move comes when Bitcoin hovers around new all-time highs near $ 65,000 and institutional interest grows with it.

In this week, The open interest in Bitcoin futures has hit a new all-time high of $ 25 billionbefore Coinbase was listed on the Nasdaq.

Bitcoin futures total open interest graph. Source: Skew

However, Grayscale’s Bitcoin Trust (GBTC) continued to generate a negative trading premium compared to spot prices.and it was trading at about 14.3% discount on Thursday.

US regulators haven’t approved Bitcoin ETFs yet, which gives Canada a solid advantage although its market is a fraction of its neighbor.

The Purpose Bitcoin ETF, which first gave the green light in the country earlier this yearNow manages $ 1.4 billion ($ 1.12 billion) in assets.

However, as Cointelegraph indicated, In the USA, exposure to ETFs is still possible indirectly.

Purpose Bitcoin ETF assets under management compared to the BTC / USD chart. Source: Bybt

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