VistaShares launches treasury ETF with Bitcoin options

VistaShares has launched BTYB, an actively managed exchange-traded fund listed on the New York Stock Exchange that combines US Treasury exposure with Bitcoin-linked options strategies.

The fund allocates around 80% of assets to US Treasury securities and related instruments, with roughly 20% providing synthetic exposure to Bitcoin price movements through options.

BTYB’s Bitcoin-linked exposure is achieved via call options on iShares Bitcoin Trust, rather than holding Bitcoin directly, according to fund disclosures.

VistaShares said the ETF uses a synthetic covered call strategy designed to generate weekly income, limiting upside potential in exchange for options premiums.

The issuer said BTYB targets roughly twice the yield of the five-year Treasury, though weekly distributions are variable and not guaranteed.

The launch reflects a broader trend among US issuers experimenting with crypto-linked ETFs that blend digital assets with traditional securities.

Recent examples include multi-asset crypto index funds approved by the Securities and Exchange Commission and actively managed products combining Bitcoin with commodities, equities and derivatives.

At the time of reporting, Bitcoin price was $76,337.75.