Here’s A Bitcoin ETF You Can Buy Right Now

A bitcoin ETF holding coins, not futures. An exchange-traded fund that holds bank deposits. Things that look like shares of Amazon or Tesla but pay a dividend. A refundable lifetime annuity.

Somehow this outfit competes with the likes of BlackRock, Vanguard and Fidelity, each managing trillions of dollars. “This isn’t a winner-take-all business,” says Seif. “It’s the most fragmented business in the world.” How is it that Canada is years ahead of the U.S. in official tolerance of digital currencies? Seif spent a lot of time wooing the bureaucrats before dropping a registration statement in their laps. “Regulators are there to engage,” he says. “That can lead to more innovation.” Something else Canada has going for it, he says, is a welcoming attitude toward immigrants. Seif’s father, who has a Ph.D. in chemistry, is an Iranian expatriate.

Objective: Find niches. The bank-deposit ETF, currently yielding 5%, is a creative way to extract interest from institutions not in the habit of paying market rates on demand deposits. Seif’s variation on single-stock ETFs, available for Alphabet, Amazon, Apple, Berkshire Hathaway and Tesla, manufactures a payout for the yield-hungry by combining leverage with the sale of call options on some of the share holdings.

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