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Simplify Asset Management Launches Simplify U.S. Equity Plus GBTC ETF (SPBC)
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New fund is one of the first ETF to provide liquid, scalable means for adding Bitcoin exposure to a portfolio
May 25, 2021
NEW YORK – (BUSINESS WIRE) – Simplify Asset Management (“Simplify”), an innovative provider of Exchange Traded Funds (“ETFs”), today announced the launch of the Simplify U.S. Equity PLUS GBTC ETF (Nasdaq: SPBC).
SPBC will invest at least 80% of its net assets in U.S. equity securities, and expects to invest up to 15% of net assets in Bitcoin via the Grayscale Bitcoin Trust (GBTC). The portfolio is periodically rebalanced, and the fund’s Adviser actively manages the premium/discount dynamics of GBTC via either direct trading in the market or via private placement. The fund retains the tax efficiency that is a hallmark of the ETF space and does not provide investors with a K-1 come tax time.*
“Cryptocurrency markets now exceed $2 trillion in value and account for more than 1% of the overall global market portfolio. In addition, recent research has shown how uncorrelated crypto assets are to equity and fixed income markets, making them a possibly compelling part of a well-diversified portfolio,” said Paul Kim, CEO with Simplify. “But allocating to crypto assets is difficult since over-the-counter offerings can present a host of challenges for investors and advisors, managing direct crypto exposure can be incredibly time consuming and onerous, and there remains no ETF on the market providing direct exposure to crypto itself. We’re very pleased to be launching SPBC, as a means of solving these challenges, providing a liquid, scalable way to add Bitcoin exposure to a portfolio.”
SPBC joins a fast-growing Simplify ETF lineup, which earlier this month also saw the launch of the Simplify Interest Rate Hedge ETF (NYSE Arca: PFIX) and the Simplify Volatility Premium ETF (NYSE Arca: SVOL), two first-of-their-kind ETFs.
“Helping advisors and investors build better portfolios is at the heart of our work at Simplify, and with PFIX, SVOL, and now SPBC, we’re very excited about the approaches we’re bringing to market as a means of helping solve some of the toughest investment challenges,” added Kim.
“Nasdaq supports innovation throughout the financial universe, and our exchange is home to the most innovative companies and the most innovative ETFs,” said Giang Bui, Head of U.S. Exchange Trade Products for Nasdaq. “Our work with Simplify helps investors navigate the strong demand for cryptocurrency exposure and the regulatory requirements needed to protect investors.”
ABOUT SIMPLIFY ASSET MANAGEMENT INC
Simplify Asset Management Inc. is a Registered Investment Adviser founded in 2020 to help advisors tackle the most pressing portfolio challenges with an innovative set of options-based strategies. By accounting for real-world investor needs and market behavior, along with the non-linear power of options, our strategies allow for the tailored portfolio outcomes for which clients are looking. For more information, visit www.simplify.us.
SPBC will invest at least 80% of its net assets in U.S. equity securities, and expects to invest up to 15% of net assets in Bitcoin via the Grayscale Bitcoin Trust (GBTC). The portfolio is periodically rebalanced, and the fund’s Adviser actively manages the premium/discount dynamics of GBTC via either direct trading in the market or via private placement. The fund retains the tax efficiency that is a hallmark of the ETF space and does not provide investors with a K-1 come tax time.*
“Cryptocurrency markets now exceed $2 trillion in value and account for more than 1% of the overall global market portfolio. In addition, recent research has shown how uncorrelated crypto assets are to equity and fixed income markets, making them a possibly compelling part of a well-diversified portfolio,” said Paul Kim, CEO with Simplify. “But allocating to crypto assets is difficult since over-the-counter offerings can present a host of challenges for investors and advisors, managing direct crypto exposure can be incredibly time consuming and onerous, and there remains no ETF on the market providing direct exposure to crypto itself. We’re very pleased to be launching SPBC, as a means of solving these challenges, providing a liquid, scalable way to add Bitcoin exposure to a portfolio.”
SPBC joins a fast-growing Simplify ETF lineup, which earlier this month also saw the launch of the Simplify Interest Rate Hedge ETF (NYSE Arca: PFIX) and the Simplify Volatility Premium ETF (NYSE Arca: SVOL), two first-of-their-kind ETFs.
“Helping advisors and investors build better portfolios is at the heart of our work at Simplify, and with PFIX, SVOL, and now SPBC, we’re very excited about the approaches we’re bringing to market as a means of helping solve some of the toughest investment challenges,” added Kim.
“Nasdaq supports innovation throughout the financial universe, and our exchange is home to the most innovative companies and the most innovative ETFs,” said Giang Bui, Head of U.S. Exchange Trade Products for Nasdaq. “Our work with Simplify helps investors navigate the strong demand for cryptocurrency exposure and the regulatory requirements needed to protect investors.”
ABOUT SIMPLIFY ASSET MANAGEMENT INC
Simplify Asset Management Inc. is a Registered Investment Adviser founded in 2020 to help advisors tackle the most pressing portfolio challenges with an innovative set of options-based strategies. By accounting for real-world investor needs and market behavior, along with the non-linear power of options, our strategies allow for the tailored portfolio outcomes for which clients are looking. For more information, visit www.simplify.us.
