Grayscale Investments has introduced two new Bitcoin exchange-traded funds (ETFs) aimed at generating revenue through options strategies that leverage Bitcoin's volatility. The Grayscale Bitcoin Covered Call ETF (BTCC) and Grayscale Bitcoin Premium Income ETF (BPI) are designed to provide alternative income streams less correlated to traditional investments. The Covered Call ETF focuses on generating high premiums by writing calls near current spot prices, exploiting Bitcoin's volatility. In contrast, the Premium Income ETF balances potential growth with income generation by systematically writing calls with higher strike prices on Bitcoin ETFs. Both funds promise to deliver uncorrelated income sources with monthly distributions and systematic options management. Grayscale's new offerings come amidst its broader strategy to diversify offerings in the crypto space, including a recent filing for a new diversified ETF covering multiple cryptocurrencies.

Source 🔗