Amplify ETF Trust - Amplify Fairlead Tactical Bitcoin ETF (BNAV)

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BNAV seeks long-term capital appreciation by allocating its Bitcoin (BTC) exposure and adapting to changing market conditions. The fund does not invest directly in BTC but in related instruments, including ETPs, options, and futures contracts. Under favorable conditions, the fund may employ leverage of up to 150% through derivatives. Leverage may magnify both gains and losses, increasing volatility. The fund uses US-listed options referencing an ETP or index to create synthetic exposure. It may utilize exchange-traded or FLEX options contracts, as well as cash-settled futures through a wholly owned Cayman Island subsidiary. The fund employs a proprietary model using historical data, such as price, momentum, and volatility, to adjust exposure between 70% and 150%. The model evaluates trends across multiple time horizons, classifying market conditions as higher or lower conviction. The actively managed ETF may increase or decrease exposure based on trends, momentum, or risk.