FT Vest Bitcoin Strategy Floor15 ETF - January (BFJA)

The FT Vest Bitcoin Strategy Floor15 ETF - January (BFJA) is a defined-outcome fund sponsored by First Trust and sub-advised by Vest Financial. It belongs to a series of similar funds staggered by month, and its annual outcome period begins each January.

The fund aims to deliver exposure to the price return of bitcoin, generally through bitcoin-linked exchange-traded products and options, while employing an options strategy intended to limit losses over the outcome period to roughly 15 percent, the floor in its name. That protection comes at the cost of limited upside participation over the period.

The stated floor and upside terms apply to investors who hold for the entire outcome period; those who enter or exit midway may experience different results. The terms are reset when each new annual period begins.