May 15, 2021

Canada Launches First Bitcoin ETF

Canada Launches First Bitcoin ETF

Norizons ETFs Management has launched BetaPro Bitcoin ETF (HBIT) and BetaPro Inverse Bitcoin ETF (BITI). New exchange-traded funds are traded on the stock the Toronto Stock Exchange (TSX) under the ticker HBIT and BITI.

BITI is the world's first Bitcoin ETF that allows investors to short the price of BTC.

In addition, BITI offers investors short contacts on BTC without using a margin account or selling futures directly.

BITI allows you to bet on falling prices by selling short futures. The fund's commission is 1.45%.

HBIT traditionally tracks the performance of the first cryptocurrency futures. The service fee is 1%.

The Canadian jurisdiction was the first in the world to allow ETFs based on the BTC. Earlier, Canada approved the release of similar products based on Ethereum.

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