MutualFundWire.com: For Fund 7, a Quant Shop Combines Bitcoin and Options

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Wednesday, October 23, 2024

For Fund 7, a Quant Shop Combines Bitcoin and Options

The team at a quantitative asset manager in the Constitution State is rolling out their seventh fund, this time focusing on both bitcoin and on generating income via call options.

Troy Michael Cates
NEOS Investments LLC
Co-Founder, Managing Partner

The folks at NEOS Investment Management, LLC [profile] recently launched the NEOS Bitcoin High Income ETF (BTCI on the Cboe BZX. Westport, Connecticut-based NEOS serves as investment advisor to the new, actively managed, non-diversified ETF.

BTCI's inception date was last Thursday (October 17), and the fund comes with an expense ratio of 98 basis points. As of yesterday (Tuesday, October 22), the new fund had about $998,000 in AUM.

Troy Cates and Garrett Paolella, managing partners and portfolio managers at NEOS, serve as BTCI's PM team. The new ETF is designed to invest in spot bitcoin ETPs and bitcoin futures ETFs, while also selling call options on bitcoin futures ETFs to generate income.

BTCI is a series of NEOS ETF Trust. The new fund's other service providers include: Cohen & Company, Ltd. as independent accounting firm; ACA's Foreside Fund Services, LLC as distributor; Thompson Hine LLP as counsel; U.S. Bancorp Fund Services, LLC as administrator and transfer agent; and U.S. Bank, N.A. as custodian.

Printed from: MFWire.com/story.asp?s=68075

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