[Asia Economy Reporter Minji Lee] Mirae Asset Global Investments' Canadian ETF manager, Horizons ETFs, announced on the 16th that it has listed three new ETFs on the Toronto Stock Exchange. These include two Bitcoin ETFs and one global BBIG theme ETF. Notably, it launched North America's first Bitcoin inverse product.
The newly introduced ETFs by Horizons ETFs consist of two Bitcoin ETFs, including a Bitcoin inverse ETF, and one ETF investing in the global BBIG theme, totaling three ETFs.
On the 15th, Horizons ETFs listed the 'BetaPro Bitcoin ETF' and 'BetaPro Inverse Bitcoin ETF,' which invest in the world's largest cryptocurrency, Bitcoin. In particular, the 'BetaPro Inverse Bitcoin ETF' is North America's first Bitcoin inverse product. Instead of directly investing in Bitcoin, the ETFs invest through Bitcoin futures traded on the Chicago Mercantile Exchange (CME). The tracking index is the 'Horizons Bitcoin Front Month Rolling Futures Index,' with the 'BetaPro Bitcoin ETF' tracking 1x the daily return of the index, and the 'BetaPro Inverse Bitcoin ETF' tracking -1x.
The 'Horizons Global BBIG Technology ETF' was listed on the 13th. This ETF invests in the BBIG theme, which consists of secondary batteries, bio, internet, and gaming sectors, and tracks the 'Solactive Global BBIG Index.' The index selects the top 10 stocks by market capitalization in each theme that meet liquidity and market capitalization criteria from advanced market exchanges, including Korea and Taiwan, totaling 40 stocks. The newly listed ETFs can be ordered through overseas stock trading accounts at securities firms such as Mirae Asset Securities. They can be traded in Canadian dollars and US dollars.
Horizons ETFs is the fourth-largest ETF manager in Canada and was acquired by Mirae Asset Global Investments in 2011. As of the end of last year, it manages 93 ETFs with assets totaling $16.8 billion USD (18.78 trillion KRW). With a diverse product lineup including active and passive ETFs as well as leveraged and inverse ETFs, its assets under management increased by $5.8 billion USD (6.53 trillion KRW) in 2020 alone.
Steve Hawkins, CEO of Horizons ETFs, stated, "The BBIG industry continues to grow and will act as a catalyst for the development of other industries such as electric vehicles," adding, "Although investing in Bitcoin is difficult despite high interest, the 'BetaPro ETF' allows easy investment in Bitcoin."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
