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Recently, amid the growing enthusiasm for bitcoin, a virtual currency, among investors, Mirae Asset Asset Management launched the first Bitcoin-related ETF (listed index fund) through its subsidiary. One of the two Bitcoin ETFs is an inverse product that bets on falling bitcoin prices.
Mirae Asset Management announced on the 16th that its subsidiary, Horizons ETFs, a Canadian ETF manager, has listed three new ETFs on the Toronto Stock Exchange.
The listed ETFs are two Bitcoin-related ETFs (BetaPro Bitcoin ETF, BetaPro Inverse Bitcoin ETF) and one global BBIG (battery, bio, internet, game) theme-related one (Horizons Global BBIG Technology ETF).
This is the first time that Mirae Asset Management has launched a Bitcoin ETF through its subsidiary. In particular,’BetaPro Inverse Bitcoin ETF’ is the first bitcoin inverse product that appeared in North America.
This bitcoin ETF does not invest directly in bitcoin, but through bitcoin futures traded on the Chicago Commercial Exchange (CME). The following index is’Horizons Bitcoin Front Month Rolling Futures Index’,’BetaPro Bitcoin ETF’ tracks 1x the index daily return, and’BetaPro Inverse Bitcoin ETF’, an inverse product, tracks -1x.
‘Horizons Global BBIG Technology ETF’ follows’Solactive Global BBIG Index’. The index consists of a total of 40 stocks by selecting the top 10 stocks by theme that meet liquidity and market capitalization conditions from stocks listed on exchanges in developed countries including Korea and Taiwan.
These ETFs can be ordered through overseas stock trading accounts of securities companies such as Mirae Asset Securities. It can be traded in Canadian dollars and US dollars.
Horizons ETFs CEO (CEO) Steve Hawkins said, “The BBIG industry will continue to grow and act as a catalyst for the development of other industries such as electric vehicles.” You can invest in it.”
Horizons ETFs, acquired by Mirae Asset in 2011, is the fourth largest ETF manager in Canada. As of the end of last year, it is operating 93 ETFs, worth 16.8 billion dollars (18.78 trillion won). With the supply of various products such as leverage and inverse ETFs as well as active and passive ETFs, the operating scale increased by $5.8 billion (6.3 trillion won) in 2020 alone.
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