Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people around the world achieve their financial goals through our investing services and financial advice. Our goal is to help every Canadian achieve financial freedom.
BITI seeks daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to up to one times (100%) the inverse (opposite) of the daily performance of the Horizons Bitcoin Front Month Rolling Futures Index ER (the Underlying Index, Bloomberg ticker: HBITCNER). If BITI is successful in meeting its investment objective, its net asset value should gain approximately as much on a given day, on a percentage basis, as the Underlying Index, when this Underlying Index declines on that given day. Conversely, BITIs net asset value should lose approximately as much on a given day, on a percentage basis, as the Underlying Index when this Underlying Index rises on that given day. BITI takes positions in financial instruments that, in combination, should have similar daily return characteristics as up to one times (100%) the inverse (opposite) performance of the Underlying Index.