Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly (QBF)

The Innovator Uncapped Bitcoin 20 Floor ETF - Quarterly is a defined-outcome fund from Innovator Capital Management, a sponsor focused on defined-outcome ETFs.

The fund seeks to provide exposure to the price of bitcoin, through options on exchange-traded products that hold bitcoin, over successive three-month outcome periods. The structure aims to set a floor that limits losses to roughly 20% over each quarterly period, while, as the name indicates, upside participation is not subject to a fixed cap; the cost of the floor is instead reflected in reduced participation in gains.

The option positions reset each quarter. The fund does not hold bitcoin directly and trades on Cboe BZX under the ticker QBF.