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The day after its SpotBitcoin ETF was approved by the U.S. SEC, Grayscale Investments submitted an application for a so-called covered Options ETF designed to generate income from the GBTC Holdings.
"The Grayscale Bitcoin Trust Covered Options ETF is designed to provide and deliver current income while also providing an opportunity to participate in the price return of the Grayscale Bitcoin Trust," according to Form N-1A filed Thursday afternoon.
According to the filing, the fund will not invest directly in digital assets.
Nate Geraci, president of The ETF Store, said in a post on the X platform: "And so it began... Actively manage GBTC exposure and buy and sell call/put options using GBTC as a reference asset. We will see changes in various SpotBitcoin ETFs. ”
The new filing comes hours after Grayscale's SpotBitcoin ETF, GBTC, and 10 other ETFs began trading on Thursday morning. As of this afternoon, the trading volume of these products has exceeded $4 billion. (The Block)