According to Foresight News, financial company YieldMax has submitted an application to the US Securities and Exchange Commission (SEC) to launch a Bitcoin Options Yield Strategy ETF (YBIT) on the New York Stock Exchange Arca. Official documents reveal that the ETF is based on synthetic bullish options strategies of other Bitcoin spot ETFs. Its primary investment objective is to pursue current income and seek exposure to specific ETF products, increasing returns when the underlying asset's volatility rises.