Defiance has submitted a new Bitcoin basis market neutral ETF application.

PANews September 17 news, Bloomberg ETF analyst Eric Balchunas posted on the X platform that Defiance has submitted a new Bitcoin basis market neutral ETF application, aimed at providing investors with a "hedge fund basis trading" strategy. This strategy captures the premium by going long IBIT (BlackRock's Bitcoin ETF) and shorting Bitcoin futures. At the same time, they have also submitted an Ethereum version of the product, code named DETH.

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