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New ‘inverse’ Bitcoin ETF now lets investors short BTC price

April 15, 2021. Summarized by summa-bot.

Compression ratio: 69.1%. 2 min read.

Now those betting on a Bitcoin price dip can short futures via a new ETF.

13079 Total views 32 Total shares Bitcoin (BTC) investors in Canada have two more outlets for BTC exposure this week — and can now even bet on a price crash. In a press release on Wednesday, Horizons ETFs Management confirmed that its two new exchange-traded funds would start trading on the Toronto stock exchange on Thursday. Horizons: Bitcoin has “polarizing views”Already a pioneer in the regulated institutional investment space for Bitcoin, Canada has now given the go-ahead for the first of such a fund dedicated to Bitcoin price losses, not gains. Dubbed the BetaPro Inverse Bitcoin ETF (BITI), the fund allows investors to short Bitcoin futures.

Rather than a sign of bearish sentiment, however, executives describe the offering as a way to capture episodes of price volatility. Its sister, the BetaPro Bitcoin ETF (HBIT), will function in the more traditional sense, complementing the short opportunity. “We know that there are polarizing views on bitcoin and as a result, there are investors with a high degree of conviction on both the bullish and bearish cases for the asset class,”  Steve Hawkins, president and CEO of Horizons ETFs, said in the release. “In launching HBIT and BITI, our goal is to provide investment tools that allow investors to get liquid access to the returns of bitcoin futures with the ability to go long or short the asset class, based on their outlook and conviction. ” ETFs see fervent demandThe move comes as Bitcoin circles new all-time highs near $65,000 and institutional interest grows in tandem. This week, open interest in Bitcoin futures reached a fresh historic peak, passing $25 billion ahead of exchange Coinbase being listed on Nasdaq. Bitcoin futures aggregated open interest chart.

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