FT Vest Bitcoin Strategy Floor15 ETF July (BFJL)

The FT Vest Bitcoin Strategy Floor15 ETF July (BFJL) is a defined-outcome fund from First Trust, with Vest Financial as sub-adviser. It is part of a monthly series of funds following the same approach, and its annual outcome period starts each July.

The fund seeks exposure to the price performance of bitcoin, typically through bitcoin-linked exchange-traded products and related options, combined with an options overlay designed to limit losses over the outcome period to roughly 15 percent. In return for this floor, the fund's upside participation over the period is limited.

The floor and upside terms are calculated for the full outcome period, so shareholders who buy or sell during the period may see results that differ from the stated terms. A new set of terms is established at the start of each period.