CoinShares Physical Bitcoin ETP (BITC.USD)

Overview

The described company operates as an investment fund with a focus on achieving its objectives by managing exposure to bitcoin futures contracts, rather than investing directly in bitcoin itself. This strategy involves the selective investment in bitcoin futures contracts that are expected to provide the highest implied roll yield. The fund's approach is distinguished by its non-diversified nature, indicating a targeted investment strategy specifically aimed at bitcoin futures and short-term debt securities. This specialization allows the fund to navigate the volatile cryptocurrency market by leveraging futures contracts to potentially gain from bitcoin's price movements without holding the cryptocurrency directly.

Products and Services

• Bitcoin Futures Contracts Management

The core service revolves around the strategic management of exposure to bitcoin futures contracts. By carefully selecting futures contracts with the highest implied roll yield, the fund aims to capitalize on the nuances of the futures market to achieve its investment goals. This involves a deep analysis of the futures market to identify contracts that are anticipated to yield the best returns relative to the cost of rolling over these contracts.

• Investment in Short-term Debt Securities

In addition to its focus on bitcoin futures, the fund diversifies its strategy by investing in short-term debt securities. This element of the fund's strategy is designed to provide a balance to its investment portfolio, offering a stable return through more traditional financial instruments. The inclusion of short-term debt securities helps in potentially mitigating the risks associated with the volatile nature of the bitcoin futures market, aiming to provide a more steady return profile for the fund's investors.