According to ChainCatcher, ETF issuer YieldMax announced the launch of the YieldMax Bitcoin Options Income Strategy ETF (NYSE Arca: YBIT).

YBIT seeks to generate current returns by applying a synthetic covered call option strategy on one or more U.S.-listed ETFs that track Bitcoin and are actively managed by ZEGA Financial.

When selecting an underlying ETF for trading options, ZEGA considers two key factors: giving priority to ETFs that directly hold physical or spot Bitcoin rather than ETFs that indirectly reference Bitcoin futures; and selecting an underlying ETF with sufficient options liquidity to support YBIT trading activity.

It is worth noting that YBIT does not invest directly in any Bitcoin ETF, nor does it invest directly in Bitcoin or any other digital assets, nor does it invest in derivatives that track the performance of Bitcoin or other digital assets. Investors seeking direct exposure to Bitcoin prices should consider other investments besides YBIT.

It is reported that YBIT is the latest member of the YieldMax ETF product line. Like all YieldMax ETFs, YBIT aims to provide investors with current returns.