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Grayscale Bitcoin Trust

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 <p class="is-style-lead">Financial services firm First Trust submitted the Bitcoin <a rel="noopener noreferrer nofollow" title="buffer" href="https://thebittimes.com/tag/buffer.html">buffer</a> filing ETF to the United States Securities and Exchange Commission on Dec. 14.&nbsp;</p>
 <p>The filing, Form N1, outlines the firm’s intention to introduce a new Bitcoin-linked product named the First Trust Bitcoin Buffer ETF.</p>
 <h2 class="wp-block-heading" id="exposure-to-bitcoin-s-performance">Exposure to Bitcoin’s performance</h2>
 <p>According to&nbsp;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.</p>
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    <p lang="en" dir="ltr">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</p>— James Seyffart (@JSeyff) December 14, 2023
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 <p>Differing from a spot Bitcoin ETF, which directly tracks Bitcoin’s performance, the <a rel="noopener noreferrer nofollow" title="buffer" href="https://thebittimes.com/tag/buffer.html">buffer</a> ETF will employ options to pursue a specific investment outcome. According to Bloomberg Intelligence analyst James Seyffart, the benefit is that this type of fund is said to shield investors from losses in the event of market downturns by imposing a <a rel="noopener noreferrer nofollow" title="buffer" href="https://thebittimes.com/tag/buffer.html">buffer</a> or limit on a stock’s growth within a defined period.&nbsp;</p>
 <p>Seyffart states that the community should expect other entrants with different strategies for Bitcoin exposure in the next couple of weeks.</p>
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  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> SEC is taking ‘new look’ at spot Bitcoin ETF applications
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 <h2 class="wp-block-heading" id="cash-only-redemptions">Cash-only redemptions</h2>
 <p>This news came on the same day that Valkyrie Funds, a spot Bitcoin ETF race player, submitted a new S-1.</p>
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   <div class="rll-youtube-player" data-src="https://www.youtube.com/embed/aa3TnwGoJ_A" data-id="aa3TnwGoJ_A" data-query="feature=oembed" data-alt="What an approved spot bitcoin ETF could mean for the crypto industry?"></div>
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 <p>In alignment with Bitwise and Invesco, this move underscored a focus on cash-only creations and redemptions, with shared anticipation for transitioning to in-kind transactions where regulations allow.</p>
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Valkyrie files new S-1, adopts cash-only approach for spot Bitcoin ETF
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/first-trust-files-for-bitcoin-buffer-etf-tbt73828.html">https://thebittimes.com/first-trust-files-for-bitcoin-buffer-etf-tbt73828.html</a></p>

First Trust files for Bitcoin buffer ETF

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