According to Odaily Planet Daily, ETF issuer Defiance has filed applications with the U.S. Securities and Exchange Commission to launch two exchange-traded funds (ETFs) built around so-called "basis trades"—one pegged to Bitcoin and the other to Ethereum. This strategy, a common trading method in the cryptocurrency sector for years, aims to capitalize on the price difference between the spot market and futures contracts: investors buy cryptocurrency tokens, sell corresponding futures contracts, pocket the difference, and repeat the process, aiming to generate a stable income from the spread while largely shielding against large price fluctuations. Defiance plans to use the tickers "NBIT" (for Bitcoin) and "DETH" (for Ethereum), effectively transforming this trading process into a one-click ETF product. The Bitcoin ETF will buy Bitcoin spot funds like BlackRock's IBIT and short Bitcoin futures on the Chicago Mercantile Exchange (CME). Its expected return is derived from the price difference between the two markets, which is influenced by factors such as volatility and demand dynamics. (Jinshi Data App)