{"id":88304,"date":"2025-07-24T09:39:23","date_gmt":"2025-07-24T09:39:23","guid":{"rendered":"https:\/\/www.europesays.com\/us\/88304\/"},"modified":"2025-07-24T09:39:23","modified_gmt":"2025-07-24T09:39:23","slug":"dallas-based-fortuna-funds-launches-hedged-bitcoin-etf-on-chicago-board-options-exchange-dallas-innovates","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/88304\/","title":{"rendered":"Dallas-Based Fortuna Funds Launches Hedged Bitcoin ETF on\u00a0Chicago Board Options Exchange \u00bb Dallas Innovates"},"content":{"rendered":"

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Fortuna Funds Co-Founders Mark Adams and Joe Sando rang the ceremonial bell at the Chicago Board Options Exchange in June. [Photo: Fortuna Funds]<\/p>\n

Dallas-based investment management firm Fortuna Funds has launched its first investment vehicle on the Chicago Board Options Exchange (Cboe), listing an ETF that offers risk-adjusted exposure in Bitcoin via options on Bitcoin-related securities.<\/strong><\/p>\n

Called Fortuna Hedged Bitcoin Fund (HBTC), the exchange-trade fund was launched on March 19 by industry veterans Mark Adams\u00a0and\u00a0Joe Sando, who co-founded Fortuna Funds in 2024. The founders were on hand in Chicago last month to ring the ceremonial bell at the Cboe to help celebrate the ETF\u2019s listing.<\/p>\n

Adams has spent over 23 years at Dallas-based Warrington Asset Management, and is currently listed on its website as assistant portfolio manager and chief quantitative analyst. Sando is the founder of Sando Capital, which was launched in 2011. Before that, Sando was a financial advisor at Morgan Stanley and a sales partner at Santa Fe-based Thornburg Investment Management.<\/p>\n

Fortuna Funds said that by recognizing a gap in the market, it\u2019s bringing professional strategies\u2014and \u201cmore than four decades of combined financial investment management experience\u201d\u2014to a wider set of investors with downside hedging.<\/p>\n

The firm calls HBTC \u201cthe first publicly traded, hedged Bitcoin exchange-traded fund (ETF) of its kind,\u201d saying It adds an actively managed, options-based hedged overlay that aims to reduce volatility while maintaining upside\u2014\u201dwith the opportunity profile of digital asset exposure that includes a disciplined, risk-adjusted methodology for the investor concerned with price fluctuations.\u201d<\/p>\n

Fortuna said the launch of HBTC delivers on its mission to marry growth potential with capital preservation, noting that while the fund doesn\u2019t invest directly in Bitcoin, it enables investors to manage exposure through options on Bitcoin-related securities.<\/p>\n

\u2018Bridging the gap\u2019 between experts and everyday investors
\n\"\"<\/p>\n

Joe Sando<\/p>\n

\u201cIt\u2019s a new strategic entry point for the risk-averse investor,\u201d Sando said in a statement. \u201cOur inaugural product is more than a listing; we\u2019re bridging the gap between expert-level strategies and everyday investors.\u201d<\/p>\n

Writing on LinkedIn today, Sando said HBTC \u201cis built for investors who believe in Bitcoin\u2019s long-term potential but want protection against the volatility. It\u2019s actively managed with an options-based hedge, combining upside exposure with risk management.\u201d<\/p>\n

Adams said in a news release distributed today that Fortuna\u2019s new ETF is \u201cperforming well\u201d and the firm\u2019s downside hedging strategies are \u201cproving effective.\u201d<\/p>\n

\"\"<\/p>\n

Mark Adams<\/p>\n

\u201cOur long-term vision to build a platform of hedge fund-style investment with risk-adjusted options is coming to life,\u201d Adams added. \u201cGrounded by the everyday investor and responsiveness to market conditions, we plan to thoughtfully expand into other high-potential sectors.\u201d<\/p>\n

Writing on LinkedIn in March at the time of the ETF\u2019s launch, Adams said his team \u201cbrings expert options-trading experience to our new launch, and HBTC is the first-of-its-kind hedged cryptocurrency fund. Designed to mitigate Bitcoin\u2019s downside risk while preserving its uncapped upside potential, HBTC provides a strategic approach to navigating Bitcoin\u2019s volatility\u2014making it a compelling addition to retail portfolios.\u201d<\/p>\n

HBTC is quoted on the Cboe BZX Exchange and provides \u201cregulated, hedged exposure to bitcoin for both retail and institutional investors,\u201d Fortuna noted.\u00a0<\/p>\n

Chicago-based Wolverine Trading is the lead market maker for the fund.<\/p>\n

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\tR E A D\u00a0\u00a0 N E X T\t<\/p>\n