New ETFs aim to harvest 11% Bitcoin premiums with zero net market exposure

Defiance ETFs filed applications for Bitcoin and Ethereum related market-neutral exchange-traded funds (ETFs) called NBIT and DETH that execute a hedge fund arbitrage strategy. Bloomberg senior ETF analyst Eric Balchunas shared the filings on Sept. 16, noting that the funds operate a strategy of buying spot digital assets while shorting futures contracts to capture premiums. […]