How bitcoin ETFs could ease concerns for crypto-wary investors
Tim Urbanowicz, chief investment strategist at Innovator Capital Management, joins Market Catalysts to break down how his crypto ETF aims to give investors bitcoin exposure with downside protection.
To watch more expert insights and analysis on the latest market action, check out more Market Catalysts here.
cryptocurrency flying past 120,000. Now it's hovering just under 121. So, there's a lot of increasing number of ways for investors to invest in crypto. Let's talk about some of them. Tim Urbanowitz is still with me. Innovator capital management, chief investment strategist, and as it happens, you guys have, um, a, um, an ETF, at least one ETF that it offers exposure to Bitcoin, right?
We do, Julie. And you know, you look at this whole conversation we talked about the fis fiscal picture. Obviously, that is making the the Bitcoin conversation even more relevant to our advisors as a store of value. But we take a step back and you look at this pocket of capital, the advisors that are advised that are talking to their clients about, how do you own Bitcoin, institutions that are talking about how do you get Bitcoin in their portfolio, and their critiques historically have been, well, it doesn't, it doesn't generate income and it's too volatile. A lot of the developments that you have seen in the ETF market are helping to address those. And we think are really going to help open up this, this additional pocket of capital for crypto investing. Um, so, you know, one strategy that that we offer QBF, what this strategy is designed to do is give you uncapped upside up to a 74% participation rate, while also limiting your losses to 20% over three months. So we look at something like that, really good way for advisors to have that conversation with their clients, knowing that you do have that floor against losses, really a way, a good way to take down the volatility overall.
So I'm I'm really curious about this product, right? Because, um, I've been doing this long enough that if something sounds too good to be true, probably is. I'm just curious how do you cap that downside when it comes to something like Bitcoin that's so volatile?
Well, so we use options. So we do the whole defined outcome industry landscape's all built on options. We're taking different payoffs that have available in the structured note world for decades, bringing them into the ETF. So for advisors, it gives them the ability to work it into their model portfolios, different client accounts, very simply, very easily without the need to go paperwork across a hundred different accounts. So we're really excited when you think about these type of payoffs, not just on equities which have exploded the category's now at 70 billion and just defined outcome ETFs in the US, which again didn't exist pre 2018, to bring that to an asset class like Bitcoin, I think is critical because again, so many advisors are trying to figure out, our clients are asking us about this. How do we get it into our portfolio without making sure if we go through another crypto winter, we're not blowing them up even with just a two, three, four, 5% allocation.
What's the fee on a product like that look like?
Uh, 79 basis points. And that's pretty typical for, uh, you know, the defined outcome landscape innovators lineup. We launch a lot of those strategies at 79, which, if you look at this in the context of, you know, cheap beta ETFs, it looks expensive, but compared to the structured note world, you know, you're cutting costs down significantly relative to what advisors used to have access to.
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