Hedgeye Launches HBIT ETF With Options-Based Bitcoin Risk Strategy

Hedgeye Asset Management has launched the Hedgeye Hedged Bitcoin ETF under the ticker HBIT on the New York Stock Exchange.

According to the August 27 launch announcement, the actively managed fund combines exposure to US-listed spot Bitcoin products with a changing options overlay.

HBIT does not hold Bitcoin directly The fund primarily invests in exchange-traded products that track Bitcoin, including BlackRock’s iShares Bitcoin Trust.

It then buys and writes put and call options, using strike prices informed mainly by Hedgeye’s proprietary Risk Range signals. HBIT can change its positioning as frequently as once per day.