Bitwise Launches GME Option Income Strategy ETF for GameStop Investors
Bitwise Asset Management has launched the Bitwise GME Option Income Strategy ETF (IGME) to leverage GameStop's recent pivot towards bitcoin. The fund employs a covered call strategy, providing exposure to GameStop's stock performance while generating income for investors.
Key points include:
- GameStop acquired 4,710 BTC for over $500 million after raising $1.3 billion in convertible debt.
- IGME aims to combine steady income generation with limited upside potential.
- This is Bitwise’s fourth actively managed covered call ETF focused on crypto-linked firms.
- Bitwise plans to launch an ETF using a covered call strategy for shares of Circle.
The fund will be managed by Jeff Park and the portfolio management team at Bitwise.