Symbols

BFAP

FT Vest Bitcoin Strategy Floor15 ETF - April·ARCA

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Key Stats

Assets Under Management

1.80MUSD

Fund Flows (1Y)

12.00MUSD

Dividend Yield

18.85%

Discount/Premium to NAV

0.19%

Shares Outstanding

100.00K

Expense Ratio

0.90%

About FT Vest Bitcoin Strategy Floor15 ETF - April

Issuer

First Trust Advisors L.P.

Brand

FT Vest

Home Page

https://www.ftportfolios.com/Retail/Etf/EtfSummary.aspx?Ticker=BFAP

Inception Date

Apr 3, 2025

Structure

Open-Ended Fund

Index Tracked

Management Style

Active

Dividend Treatment

Distributes

Distribution Tax Treatment

Ordinary income

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

First Trust Advisors LP

Distributor

First Trust Portfolios LP

BFAP is actively managed and aims to provide the price returns of spot bitcoin, up to a predetermined cap, while also hedging further declines once the first 15% loss is realized. This structured exposure is for a one-year period using FLEX options. There are three components to understand with this type of ETF: the cap, the hedge/floor, and the outcome period. The cap is placed on the upside participation to generate some income to help offset the cost of the downside hedge. This structured cap and hedge are held over an outcome period, which is one year in this case. Once the outcome period expires, new FLEX options are created to reset the cap level and downside hedge for the new price level of bitcoin. The outcome advertised may only be attempted for an investor who holds shares on the first day of the outcome period and continues to hold them on the last day of the outcome period.