Share this article
Simplify Files for Bitcoin ETF Mixing Treasurys and Options Strategies
The company earlier this year applied with the SEC to list a Web 3 ETF.
Updated May 11, 2023, 7:11 p.m. Published Apr 20, 2022, 5:27 p.m.
Make us preferred on Google
Simplify Asset Management has submitted paperwork to the U.S. Securities and Exchange Commission (SEC) for its Simplify Bitcoin Strategy Risk-Managed Income ETF under the ticker symbol, MAXI.
- As with other SEC-approved bitcoin exchange-traded funds (ETFs), this fund will hold bitcoin futures, rather than the crypto itself. In addition, Simplify intends to layer on an income strategy and an options overlay strategy.
- For the income strategy, the fund will hold short-dated U.S. Treasury paper and ETFs that mostly invest in Treasurys. For the options strategy, MAXI will sell (write) call options and buy put options on bitcoin futures or related ETFs.
- The fund’s management fee will be 0.85%.
- In January, Simplify filed to launch the Simplify Volt Web 3 ETF aimed at tracking Web 3 companies that are expected to benefit from technology infrastructure.
Read more: Optimism for US Spot Bitcoin ETF Grows With Approval of Teucrium Futures Fund
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
More For You
Más para ti
Elon Musk's X to launch crypto and stock trading in ‘couple weeks’
Users will be able to interact with ticker symbols in posts and execute trades within the app, the company's head of product said.
Lo que debes saber:
- X is set to allow users to trade stocks and cryptocurrencies directly from their timelines.
- Users will be able to interact with ticker symbols in posts and execute trades within the app, the company's head of product said.
- X Money, the company’s in-house payments system, is preparing for an external beta launch within one to two months.
