VistaShares Launches Treasury ETF with Options-Based Bitcoin Exposure

Featured in:
abcd

VistaShares has launched BTYB, an actively managed exchange-traded fund (ETF) listed on the New York Stock Exchange that allocates the majority of its assets to U.S. Treasuries while using options strategies to provide weekly income and price exposure tied to Bitcoin.

As of Tuesday announcementthe fund allocates approximately 80% of its portfolio to U.S. Treasury securities and related instruments, with the remaining 20% ​​tied to Bitcoin (BTC) price movements through a synthetic covered call strategy. Holding data shows the fund’s Bitcoin exposure comes from call options on BlackRock’s iShares Bitcoin Trust (IBIT).

sadasda

In this particular context, a synthetic covered call strategy uses derivatives to create price exposure to Bitcoin and sells call (call) options in exchange for that exposure to generate income, rather than holding Bitcoin directly. As a result, BTYB does not track Bitcoin spot prices and limits the upside potential in exchange for higher income from option premiums.

Sources: Vistashares.com

VistaShares says the ETF aims to provide about twice the yield of a five-year Treasury bond, although payouts are not guaranteed and can change weekly depending on options market conditions and changes in interest rates.

VistaShares is a US-based ETF issuer which focuses on actively managed funds using options strategies and thematic exposures, rather than time-honored passive index tracking.

Related: Average Bitcoin ETF Buying Is Underwater as Investors Pull Out $2.8 Billion in 2 Weeks

Cryptocurrency ETF issuers go beyond products based on a single token

Other issuers have also launched U.S. exchange-traded funds that combine bitcoin with additional assets or broader baskets of cryptocurrencies, reflecting growing experimentation beyond single-asset crypto funds.

On December 19, 2024, the United States Securities and Exchange Commission (SEC) approved two spot cryptocurrency index ETFs, approving Hashdex’s Nasdaq Crypto Index US ETF to trade on the Nasdaq Exchange and Franklin Templeton’s Franklin Crypto Index ETF to trade on the Cboe BZX Exchange. Both funds have spot trades in Bitcoin and Ether (ETH) and track their respective cryptocurrency index benchmarks.

In January, Bitwise Asset Management launched the Bitwise Proficio Currency Debasement ETF, an actively managed fund holding Bitcoin, precious metals and mining stocks to address the withering purchasing power of fiat currencies.

ETFs that track a broader range of cryptocurrencies are also becoming increasingly popular. In September, Hashdex expanded its Crypto Index US ETF to include XRP (XRP), Solana (SOL), and Stellar (XLM). According to the company, the Nasdaq-listed fund holds five cryptocurrencies in a 1:1 ratio, including Bitcoin and Ether.

In November 2025, 21Shares launched two US-regulated cryptocurrency index ETFs: 21Shares FTSE Crypto 10 Index ETF and 21Shares FTSE Crypto 10 ex-BTC Index ETF. Both funds track the FTSE Russell cryptocurrency indexes and hold baskets of large-cap digital assets.

Warehouse: The most significant reason why you should never ask ChatGPT for legal advice

Cointelegraph is committed to independent and limpid journalism. This news article has been produced in accordance with Cointelegraph’s Editorial Policy and is intended to provide correct and up-to-date information. Readers are encouraged to verify the information themselves. Read our Editorial Policy https://cointelegraph.com/editorial-policy
abcd
sadasda

Find us on

Latest articles

Related articles

See more articles

Bithumb seeks to reappoint CEO despite recent controversy: report

Bithumb, South Korea's second-largest cryptocurrency exchange by trading volume, is reportedly seeking to reappoint CEO Lee Jae-won...

If Bitcoin Price Doesn’t Hold, Take and Hold $69,000...

Over the weekend, Bitcoin's price fell below $70,000, effectively erasing the previous week's gains. The move puts...

Crypto stocks fall as oil falls after Iran promises...

Crypto and broader markets fell on Monday as the United States and Iran escalated threats against each...

Altcoin trading volumes have reached their lowest levels in...

Altcoin trading activity has continued to weaken cryptocurrency market, which is another sign current...

NYSE lists crypto scrap option cap at 11 Bitcoin...

Two exchanges affiliated with the New York Stock Exchange have removed the 25,000 limit on options contracts...

XRP ledger signals growth after unlocking $1 million and...

They say journalists are never really done. But for Christian it's not just a metaphor, it's a...