- With the strong acceptance of Bitcoin
ETFs in the United States, the exploration of innovative product offerings continues.
- The ETF operates within the framework of a synthetic option strategy called ‘The Fund.’
- The fund particularly emphasizes avoiding exposure to the current spot or cash price of Bitcoin.
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As interest in spot Bitcoin ETFs continues to rise, YieldMax is moving forward to launch a new Bitcoin ETF in the United States.
YieldMax Aims to Launch a Bitcoin ETF in the US
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With the strong acceptance of Bitcoin ETFs in the United States, the exploration of innovative product offerings continues. YieldMax has applied to the US SEC for the introduction of an ETF called YBIT. This ETF includes a Bitcoin option income strategy, and it is planned to be listed on the New York Stock Exchange around April 10, 2024.
In the application submitted to the US Securities and Exchange Commission (SEC) by YieldMax, it is stated that the fund aims to indirectly expose itself to several exchange-traded products (ETPs) traded on a specific US exchange, aiming to generate current income.
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The ETF operates within the framework of a synthetic option strategy called ‘The Fund.’ This strategy is strategically designed to not only generate income but also provide indirect exposure to the stock price returns of one or more underlying ETPs associated with BTC.
Significantly, the option strategy implemented by the fund puts an upper limit on potential investment gains. This ETF uses a synthetic option strategy derived from other spot Bitcoin ETFs. Its objectives include generating current income, exposure to the performance of TBD spot Bitcoin ETFs, and increasing returns during periods of high volatility in the underlying assets.
Importantly, it is emphasized that the fund will not make direct investments in Bitcoin or other digital assets. Additionally, it avoids direct investments in derivatives tracking the performance of Bitcoin or other digital assets. The fund particularly emphasizes avoiding exposure to the current spot or cash price of Bitcoin.
Bitcoin ETF Market Remains Hot
Nearly 20 days after the launch of spot Bitcoin ETFs in the market, these ETFs continue to see strong entries. According to recent developments, US financial giant Charles Schwab is reported to be exploring entry into the Bitcoin ETF market. Interestingly, other market players are also aligning with these developments. According to reports, Google will start allowing ads for spot BTC ETFs at the end of the month.