Bloomberg ETF analyst Eric Balchunas revealed on June 11 on X that the investment research firm Hedgeye has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch a “hedged Bitcoin ETF” code-named $HBIT . According to the post, HBIT’s design strategy is to invest in Bitcoin ETFs, and then manage downside risk and generate returns through trading call options.
Hedgeye HBIT ETF Application Information
(Source: Eric Balchunas post)
Based on Balchunas’s X post and Seyffart’s confirmation, the following specific details have been confirmed:
Issuer: Hedgeye (an independent investment research firm headquartered in the United States)
Proposed product name: Hedged Bitcoin ETF; ticker: $HBIT
Strategy framework: Invest in Bitcoin ETFs while trading call options to manage downside risk and generate returns
Application status: Filed with the SEC and in the early stages of the application process
Source: Bloomberg ETF analyst Eric Balchunas (X post, June 11) and James Seyffart’s confirmation
Information Not Yet Public as of Press Time
As of June 11, 2026, the following information has not been disclosed in the application documents or in any public statements:
· Specific details of HBIT’s options strategy (including option strike settings, hedging ratios, etc.)
· Expense ratio and estimated fund size
· SEC review timeline or review decision
· Hedgeye’s official statement regarding the HBIT listing schedule
FAQ
What known structural differences does HBIT have versus existing spot Bitcoin ETFs (such as BlackRock IBIT)?
Most existing spot Bitcoin ETFs (such as IBIT) track the price of Bitcoin directly and do not include a hedging strategy. As described in Balchunas’s X post, HBIT is designed as a structured ETF that includes an options strategy—managing risk by trading call options while holding a Bitcoin ETF. Specific options-strategy details have not yet been made public.
What is Hedgeye, and has it launched any ETFs before?
Hedgeye is an independent investment research firm headquartered in the United States, providing market analysis for institutional and individual investors. According to existing coverage, this HBIT filing is Hedgeye’s first formal submission in the ETF product space; the company previously focused mainly on investment research.
How long does the SEC review process for HBIT typically take?
As of June 11, 2026, the SEC has not provided any review timeline or response regarding the HBIT application. The standard process for SEC ETF applications typically includes multiple rounds of document review, and the exact timing is determined by the SEC based on the type of filing, with no standard confirmation deadline.
