According to ChainCatcher, four asset management companies have submitted applications to U.S. regulators to create investment Bitcoin ETFs, but using derivatives to minimize or completely hedge potential losses.
Calamos Investments has applied for four managed on-exchange ETFs.
First Trust Portfolios has applied to establish a 15% floor ETF, as well as a buffered ETF aimed at protecting against the first 30% of losses.
Innovator ETFs is seeking to launch a three-month buffered product with a yield of 10%. The company has also applied to launch a three-month managed on-exchange ETF with a yield of 20%, and has set a 'participation rate'.
Grayscale Investments also plans to launch a covered call Bitcoin ETF, which will sell call options on a spot Bitcoin ETF. This will reduce the potential price appreciation when Bitcoin rises, but can provide regular premium income.
