New actively managed ETF combines bitcoin exposure with a dynamic options strategy driven by Hedgeye’s proprietary Risk Range™ Signals.
Hedgeye Asset Management, LLC (“HAM”), a subsidiary of Hedgeye Risk Management, LLC, announced the launch of the Hedgeye Hedged Bitcoin ETF, an actively managed ETF designed for investors seeking bitcoin exposure with a focus on reducing volatility and managing downside risk.
HBIT seeks long-term capital appreciation by investing primarily in U.S.-listed spot bitcoin exchange-traded products, including the iShares® Bitcoin Trust ETF (IBIT). The Fund does not invest directly in bitcoin.
To manage risk around that exposure, HBIT uses an actively managed options strategy driven primarily by Hedgeye’s proprietary Risk Range™ Signals. The Fund can adjust its options positioning as frequently as daily as market conditions change.
Bitcoin Exposure With a Risk-Management Process
Bitcoin has historically delivered significant long-term appreciation, but that opportunity has historically come with substantial volatility and deep drawdowns.
As of August 26, 2026, bitcoin traded near $78,000, approximately 38% below its October 2025 high of roughly $126,000.
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HBIT is designed for investors who want bitcoin exposure but do not necessarily want to own all of bitcoin’s volatility.
Unlike strategies built around a fixed outcome period or predetermined upside cap, HBIT’s hedging approach can adapt as market conditions change. The Fund does not target a defined outcome, does not maintain a stated upside cap and is not tied to a fixed twelve-month investment period.
A Dynamic Approach to Managing Volatility
HBIT purchases and writes put and call options at strike prices determined primarily by Hedgeye’s Risk Range™ Signals. Premiums received from writing options can help offset the cost of purchasing protection.
Rather than maintaining a static hedge, the Fund can change its positioning as frequently as daily based on factors including changes in Hedgeye’s Risk Ranges, bitcoin price trends, market and implied volatility, liquidity conditions and other market factors.
The objective is straightforward: participate in bitcoin’s long-term return potential while using a disciplined, rules-based process designed to reduce volatility and manage downside risk.
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