Looking for suggestion from our gurus in CD. Can some one tell me what is a short term ETN? What happens if we keep holding short term ETN? Does these units expire with time?

Last December, I brought TVIX @ 45$. I did that for day trading but due to some reasons, I am away from market for 2 weeks. By the time I came back, losses were over 60%. I did dollar averaging by adding more last week. Today Credit Suisse temporarily suspended issue of new units. Its hard to digest the loss so thinking to hold the units few more months. I know this is not a instrument to hold for long term. News in the market is scary. Articles in ETF daily says TVIX may go to zero. I am not really convinced with that. I didn't believe volatility is ended and Christmas rally will continue forever. Can some one explain whether the units will expire with time? If that is the case, I have to accept bitter pill and exit TVIX.

Thanks Ash, I will exit units which i brought for dollar cost averaged. I will wait for other units. Can you tell me how a short term ETN is different from a normal ETF?

Can I buy and hold (for couple of months) ETNs (for example TVIX) in my RSP or TFSA a/c ?
I understand the risk involved in them and I will play within my limits to absorb total loss...