Defiance Submits Bitcoin ETF Application with Market Neutral Strategy

According to PANews, Bloomberg ETF analyst Eric Balchunas announced on the X platform that Defiance has submitted a new application for a Bitcoin basis market neutral ETF. The ETF aims to offer investors a 'hedge fund basis trading' strategy by going long on IBIT, BlackRock's Bitcoin ETF, while shorting Bitcoin futures to capture premiums. Additionally, Defiance has submitted an Ethereum version of the product, with the ticker code DETH.