新 YieldMax™ ETF 首次亮相：為謹慎投資者提供比特幣選擇權收益策略

YieldMax™ 在 NYSE Arca 推出了 YieldMax™ 比特幣選擇權收益策略 ETF (YBIT)。 YBIT 旨在透過比特幣 ETP 的綜合備兌買權策略產生收入，無需直接投資即可提供比特幣曝險。該基金專注於持有「實體」比特幣的比特幣 ETP，並強調選擇權流動性。 YBIT 不直接投資比特幣、數位資產或追蹤其表現的衍生性商品。它加入了 YieldMax™ ETF 系列，包括 TSLA、OARK、APLY、NVDY、AMZY、FBY、GOOY、NFLY、CONY、MSFO、DISO、XOMO、JPMO、AMDY、PYPY、SQY、MRNY、AIYY、MSTY、YMAX 、YMAG和ULTY。

Emerging Investment Opportunity: Introducing YieldMax™ Bitcoin Option Income Strategy ETF (YBIT)

新興投資機會：推出 YieldMax™ 比特幣選擇權報酬策略 ETF (YBIT)

Chicago, Milwaukee, New York, April 23, 2024 (GLOBE NEWSWIRE) - YieldMax™ is thrilled to announce the highly anticipated launch of its latest ETF offering, the YieldMax™ Bitcoin Option Income Strategy ETF (NYSE Arca: YBIT). This innovative ETF is meticulously designed to generate current income through a sophisticated synthetic covered call strategy on select U.S.-listed exchange-traded products (ETPs) that provide exposure to the dynamic world of Bitcoin.

芝加哥、密爾瓦基、紐約州，2024 年 4 月 23 日 (環球通訊社) - YieldMax™ 很高興地宣布推出備受期待的最新 ETF 產品，即 YieldMax™ 比特幣選擇權收益策略 ETF（NYSE Arca：YBIT）。這款創新的 ETF 經過精心設計，旨在透過針對精選美國上市交易所交易產品 (ETP) 的複雜合成備兌看漲期權策略來產生當前收入，這些產品提供了對比特幣動態世界的投資。

Harnessing the Power of Bitcoin with a Prudent Approach

以謹慎的方式利用比特幣的力量

YBIT stands out in the rapidly evolving Bitcoin investment landscape by offering a prudent and measured approach to gaining exposure to this digital asset. Unlike many other Bitcoin-related investments, YBIT does not invest directly in Bitcoin or its underlying blockchain technology. Instead, it harnesses the power of options contracts linked to Bitcoin ETPs, providing investors with exposure to Bitcoin's price movements without the inherent risks associated with direct ownership.

YBIT 透過提供審慎且謹慎的方法來獲得這種數位資產的投資，從而在快速發展的比特幣投資領域中脫穎而出。與許多其他比特幣相關投資不同，YBIT 並未直接投資比特幣或其底層區塊鏈技術。相反，它利用與比特幣 ETP 相關的選擇權合約的力量，為投資者提供比特幣價格變動的曝險，而無需承擔與直接所有權相關的固有風險。

Expert Selection for Optimal Performance

專家選擇以獲得最佳性能

ZEGA Financial, a renowned investment management firm, serves as the active manager of YBIT. Their extensive experience in options trading enables them to meticulously select Bitcoin ETPs that meet two critical criteria:

著名投資管理公司ZEGA Financial擔任YBIT的主動管理人。他們在期權交易方面的豐富經驗使他們能夠精心選擇滿足兩個關鍵標準的比特幣 ETP：

1. Priority is given to Bitcoin ETPs that hold "physical" or "spot" Bitcoin over those that reference Bitcoin indirectly via futures contracts. This ensures that YBIT tracks the actual price of Bitcoin, providing a more accurate reflection of its market value.
2. Bitcoin ETPs are carefully evaluated for sufficient option liquidity to support YBIT's trading activities. This liquidity ensures that the options contracts utilized by the ETF can be executed efficiently, minimizing potential market impact and slippage.

Distinctive Investment Features

優先考慮持有「實體」或「現貨」比特幣的比特幣 ETP，而不是透過期貨合約間接引用比特幣的比特幣 ETP。這確保了 YBIT 追蹤比特幣的實際價格，更準確地反映其市場價值。這種流動性確保 ETF 使用的選擇權合約能夠有效執行，最大限度地減少潛在的市場影響和滑點。

YBIT is designed to deliver a steady stream of income through a carefully crafted investment strategy:

YBIT 旨在透過精心設計的投資策略提供穩定的收入流：

• Synthetic Covered Call Strategy: YBIT utilizes a synthetic covered call strategy, whereby it sells call options on the selected Bitcoin ETPs. This strategy entails selling options that grant the buyer the right, but not the obligation, to purchase the underlying Bitcoin ETP at a predetermined price (strike price) on a specific date (expiration date). In return for selling these options, YBIT receives an upfront premium, which constitutes a source of income.
• Monthly Income Distribution: YBIT aims to generate monthly income by capturing the premium received from selling call options. The amount of income distributed will vary depending on market conditions and the performance of the underlying Bitcoin ETPs.
• Limited Price Participation: While YBIT provides exposure to Bitcoin's price movements, it employs an investment strategy that inherently limits the extent to which it participates in potential upside experienced by the underlying Bitcoin ETPs. This is because the sale of call options caps the ETF's potential gains if the Bitcoin ETP's shares increase in value.
• Protection from Downside Risks: Despite the limited price participation, YBIT offers protection against potential downside risks associated with the underlying Bitcoin ETPs. If the Bitcoin ETP's shares decline in value, YBIT is not obligated to purchase them, thereby mitigating the potential losses that could occur in a direct investment scenario.

Investment Suitability and Additional Considerations

合成備兌買權策略：YBIT 採用合成備兌買權策略，出售選定的比特幣 ETP 的買權。該策略需要出售選擇權，賦予買方在特定日期（到期日）以預定價格（執行價格）購買基礎比特幣 ETP 的權利，但沒有義務。作為出售這些選擇權的回報，YBIT 會收到一筆預付款，這構成了收入來源。分配的收入金額將根據市場狀況和基礎比特幣ETP 的表現而有所不同。上漲的程度底層比特幣 ETP 所經歷的。這是因為，如果比特幣ETP 的股票價值上漲，則出售看漲期權會限制ETF 的潛在收益。 。如果比特幣 ETP 的股票價值下跌，YBIT 沒有義務購買它們，從而減輕直接投資場景中可能發生的潛在損失。

Investors seeking direct exposure to the price of Bitcoin should consider alternative investment options. YBIT is designed for investors who prioritize current income generation and are comfortable with the inherent risks associated with options trading and Bitcoin-linked investments.

尋求直接接觸比特幣價格的投資者應該考慮其他投資選擇。 YBIT 專為優先考慮當前創收並能適應期權交易和比特幣相關投資相關固有風險的投資者而設計。

Comprehensive ETF Family

全面的 ETF 系列

YBIT joins the growing YieldMax™ ETF family, which offers a diverse range of option income strategies across various asset classes. Each ETF within the family aims to deliver consistent income to investors through strategic options trading.

YBIT 加入了不斷成長的 YieldMax™ ETF 系列，該系列提供跨各種資產類別的多種選擇權收益策略。該家族中的每隻ETF都旨在透過策略性選擇權交易為投資者提供持續的收入。

Prospectus Disclosure

招股說明書揭露

Before investing in YBIT or any other YieldMax™ ETFs, it is crucial to carefully review the prospectus. The prospectus contains essential information about the investment objectives, risks, charges, and expenses associated with the fund.

在投資 YBIT 或任何其他 YieldMax™ ETF 之前，仔細閱讀招股說明書至關重要。招股說明書包含基金相關投資目標、風險、費用和開支的基本資訊。

Contact Information

聯絡資訊

For more information about YBIT or any YieldMax™ ETFs, please contact Gavin Filmore at gfilmore@tidalfg.com.

有關 YBIT 或任何 YieldMax™ ETF 的更多信息，請聯繫 Gavin Filmore，郵箱為 gfilmore@tidalfg.com。

Disclaimer

免責聲明

All information provided in this press release is for informational purposes only and should not be construed as investment advice. Past performance is not indicative of future results. Investing involves risk, including the potential loss of principal.

本新聞稿中提供的所有資訊僅供參考，不應被視為投資建議。過去的表現並不預示未來的結果。投資涉及風險，包括潛在的本金損失。

Additional Risk Disclosures

額外的風險揭露

Bitcoin ETP Risk: The value of Bitcoin ETPs, which serve as the underlying reference assets for YBIT's options contracts, can fluctuate significantly and may experience heightened volatility. These fluctuations can impact the performance of YBIT, and investors may lose their entire investment in certain circumstances.

比特幣 ETP 風險：作為 YBIT 選擇權合約的基礎參考資產，比特幣 ETP 的價值可能會大幅波動，並且可能會出現較大的波動性。這些波動可能會影響 YBIT 的表現，投資者在某些情況下可能會損失全部投資。

Call Writing Strategy Risk: The path dependency of YBIT's call writing strategy influences its ability to participate in favorable price returns of the underlying Bitcoin ETPs. This could potentially limit the ETF's overall returns during both the term of the sold call options and over extended periods.

買權策略風險：YBIT買權策略的路徑依賴性影響其參與基礎比特幣ETP有利價格報酬的能力。這可能會限制 ETF 在賣出看漲期權期間和較長時期內的整體回報。

Counterparty Risk: YBIT's involvement in options contracts introduces counterparty risk, as transactions can involve clearing houses or clearing members. The failure of these intermediaries could adversely impact the ETF's ability to meet its financial obligations.

交易對手風險：YBIT 參與選擇權合約會帶來交易對手風險，因為交易可能涉及清算所或清算會員。這些中介機構的失敗可能會對 ETF 履行其財務義務的能力產生不利影響。