Bitise Asset Management is leveraging the enthusiasm around Gamestop (GME) Bitcoin Pivot with the launch of a new Exchange-Taded Fund, designed to provide GME and revenue exposure.
A fund called the Bitise GME Option Income Strategy ETF (IGME) applies a covered call strategy to provide GameStop’s stock performance exposure and normal income to investors.
GameStop bought over $500 million in BTC late last month. He then raised $1.3 billion through convertible debt to launch Bitcoin’s financial strategy.
The new fund will be managed by the company’s portfolio management team by Jeff Park, head of Bitwise’s Alpha Strategies.
Covered call strategies include collecting premiums by selling holding options.
GameStop has a compelling story, a passionate investor base and a commitment to Bitcoin,” Bitwise wrote on social media.
The fund is Bitwise’s fourth actively managed, covered call ETF, and is participating in an increasing list of crypto companies and products designed to be exposed to revenue.
Bitwise also submitted to launch an ETF offering cover call strategy to generate revenue from Circle (CRCL) holdings, which debuted on the New York Stock Exchange earlier this month.