The first inverse Bitcoin exchange-traded fund will debut on the Toronto Stock Exchange on Thursday, according to Bloomberg.

  1. Horizon’s BetaPro Inverse Bitcoin ETF will allow investors to take short positions on Bitcoin futures under the ticker BITI.
  2. The ETF will provide up to 100% the inverse daily performance of an index that replicates the returns generated over time through exposure to long notional investments in Bitcoin futures.
  3. Management fees have been set at 1.45%, while a sister product BetaPro Bitcoin ETF (HBIT) which tracks Bitcoin futures and also debuts Thursday, will cost 1.00%.
  4. Analysts say the new ETF will provide an opportunity for those that believe current Bitcoin prices are not justified and that the digital coin is overdue for a correction.
  5. At least eight firms have filed applications for a standard Bitcoin ETF in the United States. These include Fidelity Investments Inc. and Galaxy Digital Holdings Ltd.
  6. The Securities and Exchange Commission (SEC) has rejected every Bitcoin ETF since 2013 due to manipulation and criminal activity concerns.