At the same time, Bitcoin basis trades showed gross yields reaching 11% in recent months, with periods touching double digits during volatile periods.
The trade’s market-neutral structure generates returns regardless of cryptocurrency price direction by exploiting inefficiencies between spot and derivatives markets.
Seyffart’s analysis shows Ethereum basis returns maintained yields around 10% through much of 2025, though they experienced single-digit and negative performance during market stress from late December 2024 through mid-March 2025.
Bitcoin’s basis trade generated consistently low single-digit returns through the first quarter before climbing to levels near 8% by late July.
The basis trade capitalizes on premiums that cryptocurrency futures contracts typically command over spot prices. Bitcoin futures premiums reached 17% annualized following the November election before moderating to current levels.
The new filings add to the pile of nearly 100 crypto-related ETF filings awaiting a decision by the US Securities and Exchange Commission.
The company’s proposed funds make an institutional strategy accessible to retail investors without the capital requirements and operational complexity needed to execute basis trades independently.
