FT Vest Bitcoin Strategy Floor15 ETF April (BFAP) Stock Price, Quote, News & History | Benzinga

Under normal market conditions, the Fund will invest at least 80 percent of its net assets (plus any borrowings for investment purposes) in investments that are needed to provide exposure to bitcoin and to provide the Fund's floor as described herein. For purposes of compliance with this investment policy, derivative contracts will be valued at their notional value. The Funds investment sub-advisor is Vest Financial LLC (Vest or the Sub-Advisor). In seeking to achieve its objective, the Fund will invest in option contracts, which include FLexible EXchange Options (FLEX Options), standardized listed options and/or over-the-counter options (collectively, Options) that each utilize the Bitcoin Reference Instrument as the reference asset and short-term U.S. Treasury securities, cash and cash equivalents (including box spreads). The Bitcoin Reference Instrument for the current Target Outcome Period is the Cboe Bitcoin U.S. ETF Index. However, the Bitcoin Reference Instrument utilized by the Fund may change from one Target Outcome Period to the next. In future Target Outcome Periods, the Fund may utilize the following as the Bitcoin Reference Instrument: an exchange-traded grantor trust that holds bitcoin (a Bitcoin ETP) or indexes seeking to track the performance of a basket of Bitcoin ETPs (Bitcoin ETP Indexes).