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

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.