Grayscale Announces Launch of Bitcoin Call Options ETF and Bitcoin Premium Yield ETF

2025.04.02 21:16:23

On April 2nd, according to official channels, Grayscale Investments declared the initiation of the Grayscale Bitcoin Covered Call ETF (ticker: BTCC) and the Grayscale Bitcoin Premium Income ETF (ticker: BPI). It is reported that these two funds are the first batch within Grayscale to adopt a covered call option strategy for Exchange-Traded Funds (ETFs), aiming to create a distinctive source of income for investors by leveraging Bitcoin's volatility. BTCC mainly targets stable income while participating in price fluctuations through Bitcoin-related options. The fund earns premiums by selling out-of-the-money call options that are close to the current price and distributes dividends to investors on a monthly basis. This strategy is suitable for investors seeking stable cash flow while reaping the benefits of Bitcoin's volatility. Premium income can also offer a certain degree of cushion during a market downturn. While generating income, BPI retains Bitcoin's upside potential by selling deeply out-of-the-money call options. Investors can receive a portion of the option income and benefit from Bitcoin's potential price appreciation. Both funds utilize an active option strategy and distribute dividends on a monthly basis. BlockBeats Note: A Covered Call is a strategy in options trading where an investor holds the underlying asset (such as stocks, Bitcoin ETFs, etc.) and sells (or "writes") a call option on that asset.

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