Hedgeye Launches Hedged Bitcoin ETF HBIT on NYSE

Hedgeye Asset Management has launched the Hedgeye Hedged Bitcoin ETF, ticker HBIT, on the NYSE. This actively managed product seeks bitcoin-linked exposure while reducing volatility and managing downside risk using an options overlay.

The fund invests primarily in U.S.-listed spot bitcoin exchange-traded products, including BlackRock's iShares Bitcoin Trust, and does not hold bitcoin directly. Options strikes are set mainly from Hedgeye Risk Management's proprietary Risk Range signals, with positioning adjustable as often as daily.

Hedgeye founder Keith McCullough framed the product as risk management for an asset that had traded near $78,000 as of August 26, about 38% below its October 2025 high near $126,000. The fund does not target a defined-outcome period or a stated upside cap.