Defiance applies to launch two cryptocurrency basis trading ETFs

ChainCatcher news, according to Jin10 reports, ETF issuer Defiance has submitted an application to the U.S. Securities and Exchange Commission, planning to launch two exchange-traded funds built around "basis trading," one linked to Bitcoin and the other linked to Ethereum.

The strategy aims to profit from the price difference between the spot market and futures contracts. Defiance has set the trading codes for these two ETFs as "NBIT" (Bitcoin-related) and "DETH" (Ethereum-related).