They manage the etf for a 1.5% fee or whatever that's open to anyone on the street to buy. They manage many etfs.

But they also do asset management where people give them money to deploy. Strategic income opportunities would be a "fund of funds". Where the fund owns multiple asset classes it's like a diversified portfolio. They are just saying they will be adding IBIT exposure as a part of that fund. Some funds are available just to clients. ETFs ETNs etc are available to anyone with a brokerage account.