On July 29, Amplify ETFs launched the Amplify Fairlead Tactical Bitcoin ETF (BNAV) on Cboe, targeting long-term capital appreciation through actively managed exposure to Bitcoin. Key TakeawaysIn contrast to traditional spot Bitcoin ETFs with direct exposure, BNAV uses a proprietary, rules-based model. The launch of BNAV expands Amplify’s Bitcoin-focused product lineup, joining the Amplify Bitcoin 2% Monthly Option Income ETF (BITY) and the Amplify Bitcoin Max Income Covered Call ETF (BAGY), which use active options strategies to capture income. Under highly favorable technical conditions, exposure can potentially reach up to 150%Despite providing Bitcoin exposure, BNAV does not physically hold Bitcoin directly. Expanding Bitcoin ETF EcosystemThe debut of BNAV expands Amplify’s Bitcoin ETF offerings to three, building upon the 2025 launches of the Amplify Bitcoin 2% Monthly Option Income ETF (BITY) and the Amplify Bitcoin Max Income Covered Call ETF (BAGY).