GrayScale and three other asset management companies have applied to U.S. regulators for a "risk-averse" Bitcoin ETF

ChainCatcher news, four asset management companies have submitted applications to U.S. regulators to create investment Bitcoin ETFs, but using derivatives to minimize or completely hedge potential losses.

• Calamos Investments has applied for four actively managed ETFs.
• First Trust Portfolios has applied to establish a 15% floor ETF and a buffered ETF aimed at hedging the first 30% of losses.
• Innovator ETFs is seeking to launch a three-month buffered product with a 10% return. The company has also applied to launch a three-month actively managed ETF with a 20% return and has set a "participation rate."
• Grayscale Investments also plans to launch a covered call Bitcoin ETF, which will sell call options on a spot Bitcoin ETF. This will reduce the potential price appreciation when Bitcoin rises, but can provide regular premium income.