Bitcoin (BTC) investors in Canada have two exits to the BTC market this week – and can now bet on the price crash.

In a press release issued on April 14, the management of Horizon’s ETFs confirmed that two of the new exchange traded funds (ETFs) will begin trading on the Toronto Stock Exchange on Thursday.

Afaq: Bitcoin has “polarized opinions”
Canada is already a pioneer in structured institutional investment in bitcoin and has now given the green light to the first such fund that focuses on bitcoin losses instead of gains.

The fund is called BetaPro Inverse Bitcoin ETF (BITI), and the fund allows investors to sell bitcoin futures contracts. However, managers do not describe the offer as a sign of bearish sentiment, but as a way to capture episodes of price volatility.

Its sister, BetaPro Bitcoin ETF (HBIT), in the traditional sense, will work to complement the short opportunity.

This was announced by Steve Hawkins, President and CEO of Horizon’s ETF.

“At the launch of HBIT and BITI, our goal is to offer investment vehicles that enable investors to have liquid access to earnings from bitcoin futures contracts with the ability to buy or sell for a given asset class based on their expectations and beliefs.”
ETFs see great demand
This move occurs when bitcoin is around $ 65,000 and institutional interest is rising at the same time.

Open interest in bitcoin futures reached a new all-time high this week, exceeding $ 25 billion before Coinbase was listed on the Nasdaq stock exchange.

Mass Open Interestart for Bitcoin Futures Source: Skew
However, the Bitcoin Trust (GBTC) Grayscale continued to offer negative earnings per share against spot prices and traded at a 14.3% discount on Thursday.

US regulators have not yet approved a single Bitcoin ETF, giving Canada a stable advantage, even though the market is only a fraction of its neighbors.

The targeted Bitcoin ETF, which first received the green light in the country earlier this year, now manages 1.4 billion Canadian dollars (1.12 billion dollars) in assets.

As the Cointelegraph points out, there is still an indirect impact on the ETF in the United States.

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