First Trust files for Bitcoin buffer ETF
Financial services firm First Trust submitted the Bitcoin buffer filing ETF to the United States Securities and Exchange Commission on Dec. 14. The filing, Form N1, outlines the firm’s intention to introduce a new Bitcoin-linked product named the First Trust Bitcoin Buffer ETF. Exposure to Bitcoin’s performance According to the filing, the newly proposed fund will mirror the positive price returns of the Grayscale Bitcoin Trust or another exchange-traded product (ETP), offering exposure to Bitcoin’s performance before factoring in fees and expenses. First Trust just filed for a #Bitcoin Buffer ETF. These types of funds protect against a set % of downside loss with capped upside. Expect to see other entrants in the space with unique differentiated strategies offering Bitcoin exposure over coming weeks. h/t @VildanaHajric pic.twitter.com/1qiWF53dM0 — James Seyffart (@JSeyff) December 14, 2023 Differing from a spot Bitcoin ETF, which directly tracks Bitcoi...