Grayscale unveils two new Bitcoin covered call ETFs
Grayscale is expanding its exchange-traded funds offering with two new products targeted at investors seeking exposure via covered call writing strategies.
Grayscale, one of the leading crypto asset managers in the ecosystem, announced the launch of the new Bitcoin (BTC) exchange-traded funds on April 2, 2025. The Grayscale Bitcoin Covered Call ETF and Grayscale Bitcoin Premium Income ETF will trade under the ticker symbols BTCC and BPI, respectively.
The new Bitcoin ETF products will offer investors access to options-based income generation via covered call strategies. In this case, Grayscale aims to provide investors an opportunity to benefit from Bitcoin’s market volatility through income-focused products.
BTCC and BPI come on the heels of renewed demand for exchange-traded products. Grayscale’s push to gain further traction in the space also includes a recent filing with the U.S. Securities and Exchange Commission to convert its Digital Large Cap Fund into an ETF.
BTCC is an “income-first strategy” that will leverage Bitcoin’s volatility and likely a great opportunity for investors eyeing regular cash flows and high yield. Investors can also use the option premiums they receive to hedge against market downturns.
“Grayscale Bitcoin Covered Call ETF may complement an investors existing Bitcoin exposure by adding income, while Grayscale Bitcoin Premium Income ETF offers an alternative to Bitcoin ownership, aiming to balance upside participation and income generation for investors,” David LaValle, global head of ETFs at Grayscale, said.
The Grayscale Bitcoin Covered Call ETF seeks to generate current income, with a secondary objective of providing access to BTC returns through options on spot Bitcoin ETFs. Grayscale plans to include its spot ETF products, the Grayscale Bitcoin Trust ETF and the Grayscale Bitcoin Mini Trust ETF, in the BTCC fund.
Meanwhile, the Bitcoin Premium Income ETF will target calls on BTC strike prices “well out of the money,” allowing investors to benefit from potential dividend-like income from BTC appreciation.
Grayscale says both funds are actively managed, fully options-based, and aim to offer income distribution on a monthly basis.
