Asset manager First Trust has filed for a Bitcoin buffer ETF with the SEC, intending to help investors mitigate risk by targeting downside protection.
The financial services firm First Trust is the latest company to file for a Bitcoin (BTC) exchange-traded fund (ETF) — but not a spot ETF.
On Dec. 14, First Trust submitted a Form N1-A filing with the United States Securities and Exchange Commission (SEC) to launch a new Bitcoin-linked product called the First Trust Bitcoin Buffer ETF.
According to the prospectus, the fund is designed to participate in the positive price returns — before fees and expenses — of the Grayscale Bitcoin Trust or another exchange-traded product (ETP) that provide exposure to the performance of Bitcoin.
