Bitwise Asset Administration is tapping into the fervor surrounding GameStop’s (GME) bitcoin pivot with the launch of a brand new exchange-traded fund designed to supply publicity to GME and revenue.
Dubbed the Bitwise GME Possibility Revenue Technique ETF (IGME), the fund will apply a coated name technique to each present publicity to GameStop’s share efficiency and common revenue for buyers.
GameStop bought 4,710 BTC for over $500 million late final month, following its elevating of $1.3 billion by way of convertible debt to provoke a bitcoin treasury technique.
This new fund will probably be managed by Jeff Park, Bitwise’s Head of Alpha Methods, alongside the agency’s portfolio administration crew.
Coated name methods contain promoting choices on holdings to gather premiums, a technique that may produce regular revenue, although capping upside potential.
GameStop has a compelling story, a passionate investor base, and a dedication to bitcoin,” Bitwise wrote on social media. “IGME seeks to harness that in a method that generates revenue and gives capped upside publicity.”
The fund is Bitwise’s fourth actively managed coated name ETF, becoming a member of a rising record of merchandise designed to supply publicity to crypto-linked companies and revenue.
Bitwise has additionally filed to launch an ETF providing coated name technique to generate revenue from holding shares of Circle (CRCL), which debuted on the New York Inventory Alternate earlier this month.
