PANews reported on April 25 that, according to Businesswire, Nasdaq-listed Nakamoto announced the launch of its Bitcoin Derivatives Program. The program will deposit a portion of its Bitcoin holdings into Kraken's compliant custody arrangement as collateral for derivatives strategies. Bitwise will operate these strategies in a separately managed account (SMA). The program will generate continuous premium income through covered call options and call spread strategies, and hedge against market capitalization volatility caused by falling Bitcoin prices through protective put options and put spread strategies.