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Yes, but how?
1 ETFBTC token will disappear and 1 BTS appears
or I will be able to sell 1 ETHBTC at price 1 BTC

The person selling you ETFBTC is giving a colaterral of 1 BTS per sold ETFBTC. So after the final person who sold or bought pays from colaterall

I'll check it anyway

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