Hedgeye Launches HBIT: A Risk-Managed Approach to Bitcoin Exposure
Hedgeye Asset Management has introduced the Hedgeye Hedged Bitcoin ETF under the ticker HBIT on the New York Stock Exchange. The fund combines exposure to US-listed spot Bitcoin products with a changing options overlay.
The HBIT fund does not hold Bitcoin directly, but instead 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 by Hedgeye's proprietary Risk Range signals.
The fund can change its positioning as frequently as once per day, considering price trends, market and implied volatility, liquidity, and the firm's calculated trading ranges. Unlike a defined-outcome ETF, HBIT has no fixed twelve-month term or stated permanent cap on upside.