YieldMax to Launch Inverse Coinbase Stock ETF

IconCryptoNewsTerminal Staff09 Jul, 2024

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YieldMax to Launch Inverse Coinbase Stock ETF

YieldMax, an ETF issuer, has announced plans to launch the YieldMax Short COIN Option Income Strategy ETF, according to Decrypt. The ticker is _FIAT and it is an inverse ETF that bets against the share price of Coinbase, the cryptocurrency exchange. It is expected to list on the NYSE Arca, the stock exchange of the New York Stock Exchange, on March 10. Inverse ETFs are designed to provide returns that are opposite to the performance of the underlying asset. In this case, the YieldMax Short COIN Option Income Strategy ETF will aim to provide returns that are opposite to the performance of Coinbase's stock price. This is not the first inverse ETF to be launched that bets against the cryptocurrency industry. In 2021, ProShares launched the ProShares Short Bitcoin Strategy ETF (_BITI), which has since gained over $1 billion in assets. The launch of the YieldMax Short COIN Option Income Strategy ETF is a sign of the growing interest in inverse ETFs that bet against the cryptocurrency industry. As the cryptocurrency market continues to mature, it is likely that we will see more of these types of ETFs launched.

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