HORIZONS ETFs ANNOUNCES STATEMENT REGARDING INVERSE BITCOIN ETF TICKER, BITI

TORONTO, June 21, 2022 /CNW/ - Horizons ETFs Management (Canada) Inc. ("Horizons ETFs" or the "Manager") is announcing a statement regarding the BetaPro Inverse Bitcoin ETF ("BITI"), the world's first inverse Bitcoin ETF.

Following the launch of ProShares' Short Bitcoin Strategy ETF (the "ProShares ETF") today on the New York Stock Exchange using the ticker "BITI", Horizons ETFs is emphasizing that, despite the use of the same ticker as Horizons ETFs' BetaPro Inverse Bitcoin ETF, the Manager has no affiliation with ProShares or the ProShares ETF.

"We are gratified to see that U.S. investors will now have a U.S. listed option, that hopefully emulates the success of the original BITI, the BetaPro Inverse Bitcoin ETF, launched by us here in Canada more than a year ago," said Steve Hawkins, President & CEO of Horizons ETFs. "The Canadian-listed BITI until now has been the only ETF strategy allowing investors to take advantage of volatility in the Bitcoin market, and profit from declines in the value of the world's largest cryptocurrency. Year-to-date it is one of the best-performing ETFs listed in Canada, with more than a 79% return during a market that has had few places for investors to generate positive returns."

Horizons ETFs' BetaPro Inverse Bitcoin ETF was launched on the Toronto Stock Exchange on April 14, 2021, under the ticker "BITI". BITI is designed to provide 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 (Excess Return), which replicates the returns generated over time through exposure to long notional investments in bitcoin futures. It is important to note that BITI does not seek to achieve its stated investment objective over a period of time greater than one day.

"Our goal at Horizons ETFs has always been to empower Canadian investors to have options that allow them to benefit through all market conditions," said Mr. Hawkins. "BITI has proven to be a powerful investment tool that allows Canadians to take advantage of volatility in the cryptocurrency market, and can be used to take a short position on Bitcoin with ease."

Horizons ETFs Management (Canada) Inc. is an innovative financial services company and offers one of the largest suites of exchange traded funds in Canada. The Horizons ETFs product family includes a broadly diversified range of solutions for investors of all experience levels to meet their investment objectives in a variety of market conditions. Horizons ETFs has over $22 billion of assets under management and 104 ETFs listed on major Canadian stock exchanges.

Commissions, management fees and expenses all may be associated with an investment in exchange traded products (the "Horizons Exchange Traded Products") managed by Horizons ETFs Management (Canada) Inc. The Horizons Exchange Traded Products are not guaranteed, their values change frequently and past performance may not be repeated. The prospectus contains important detailed information about the Horizons Exchange Traded Products. Please read the relevant prospectus before investing.

The Horizons Exchange Traded Products include our BetaPro products (the "BetaPro Products"). The BetaPro Products are alternative mutual funds within the meaning of National Instrument 81-102 Investment Funds, and are permitted to use strategies generally prohibited by conventional mutual funds: the ability to invest more than 10% of their net asset value in securities of a single issuer, to employ leverage, and engage in short selling to a greater extent than is permitted in conventional mutual funds. While these strategies will only be used in accordance with the investment objectives and strategies of the BetaPro Products, during certain market conditions they may accelerate the risk that an investment in shares of a BetaPro Product decreases in value. BetaPro Inverse Bitcoin ETF ("BITI"), which is an up to -1X ETF, as described in the prospectus, is a speculative investment tool and is not considered a conventional investment. The Target, an index which replicates exposure to rolling Bitcoin Futures and not the spot price of Bitcoin, is highly volatile. As a result, the ETF not is intended as a stand-alone investment. There are inherent risks associated with products linked to crypto-assets, including Bitcoin Futures. While Bitcoin Futures are traded on a regulated exchange and cleared by regulated central counterparties, direct or indirect exposure to the high level of risk of Bitcoin Futures will not be suitable for all types of investors. An investment in BITI or any of the BetaPro Products is not intended as a complete investment program and is appropriate only for investors who have the capacity to absorb a loss of some or all of their investment. Please read the full risk disclosure in the prospectus before investing. Investors should monitor their holdings in BetaPro Products and their performance at least as frequently as daily to ensure such investment(s) remain consistent with their investment strategies.

Certain statements may constitute a forward-looking statement, including those identified by the expression "expect" and similar expressions (including grammatical variations thereof). The forward-looking statements are not historical facts but reflect the author's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. These and other factors should be considered carefully and readers should not place undue reliance on such forward-looking statements. These forward-looking statements are made as of the date hereof and the authors do not undertake to update any forward-looking statement that is contained herein, whether as a result of new information, future events or otherwise unless required by applicable law.

SOURCE Horizons ETFs Management (Canada) Inc.