NEOS, a company focused on option-based income ETFs, applied to launch a Bitcoin high-yield ETF and a Bitcoin quantitative trend ETF.
An actively managed high-income ETF will employ a call options strategy on bitcoin futures, while another ETF seeks to capture positive momentum in bitcoin prices while seeking to minimize downside risk through the use of cash and cash-alternative products.
The latter ETF will hold bitcoin futures contracts, U.S. government securities and money market funds, as well as short-term fixed-income and cash-alternative ETFs.
NEOS proposes that the funds become effective within 60 days of filing applications in mid-May.