Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:A Gotham ETF Shop Combines Bitcoin and Income Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, October 3, 2022

A Gotham ETF Shop Combines Bitcoin and Income

Reported by Neil Anderson, Managing Editor

A New York City-based shop's teaming is rolling out a fund that is designed to combine bitcoin exposure with income generation.

Paul Sang Jin Kim
Simplify Asset Management Inc.
CEO, Co-Founder
On Friday, Paul Kim, CEO and co-founder of Simplify Asset Management Inc. [profile], unveiled the launch of the Simplify Bitcoin Strategy PLUS Income ETF (MAXI on the Nasdaq). The new fund is an actively managed, non-diversified fund and a series of Simplify Exchange Traded Funds.

MAXI comes with an expense ratio of 97 basis points. Its inception date was Thursday, and it had $250,000 in AUM as of Friday.

Simplify serves as the fund's investment advisor. Kim, David Berns (chief investment officer), and Michael Green (managing director and chief strategist) serve as the new fund's PMs.

According to Kim, MAXI offers investors "for the first time ... a capital efficient way to simultaneously gain exposure to bitcoin while potentially adding significant income to a portfolio." The fund invests in bitcoin futures and sells short-dated put or call spreads on equity indices.

"Whatever directional call an investor may want to make on bitcoin, MAXI can play a key role, as the Fund's income component can help add to returns on the upside while also acting as a downside hedge by virtue of the 'padding' such income may deliver during potential drawdowns for bitcoin," Kim states.

The new fund's other service providers include: BNY Mellon as administrator, custodian, fund accountant, and transfer agent; Cohen & Company, Ltd. as independent accounting firm; Foreside Financial Services, LLC as distributor; and Thompson Hine LLP as counsel. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use