Grayscale is broadening its lineup of exchange-traded funds with the addition of two new products designed for investors looking to gain exposure through covered call writing strategies.
As a prominent player among crypto asset managers, Grayscale has unveiled the launch of its new Bitcoin (BTC) exchange-traded funds on April 2, 2025. The Grayscale Bitcoin Covered Call ETF and Grayscale Bitcoin Premium Income ETF will be listed under the ticker symbols BTCC and BPI, respectively.
These latest Bitcoin ETF offerings aim to provide investors with opportunities for income generation based on options through covered call strategies. Grayscale intends to equip investors to capitalize on Bitcoin’s market fluctuations via these income-focused products.
The introduction of BTCC and BPI comes in response to a resurgence in demand for exchange-traded products. Grayscale’s efforts to strengthen its presence in the market also include a recent application with the U.S. Securities and Exchange Commission to transform its Digital Large Cap Fund into an ETF.
BTCC follows an “income-first strategy” that exploits Bitcoin’s volatility, representing an appealing option for investors seeking consistent cash flows and substantial returns. Additionally, investors can utilize any option premiums received as a hedge against potential market declines.
“The Grayscale Bitcoin Covered Call ETF can enhance an investor’s existing Bitcoin holdings by introducing an income-generating component, while the Grayscale Bitcoin Premium Income ETF presents an alternative to direct Bitcoin ownership, with the goal of balancing upside potential with income creation,” stated the global head of ETFs at Grayscale, David LaValle.
The Grayscale Bitcoin Covered Call ETF aims to produce current income while also providing access to potential BTC returns via options related to spot Bitcoin ETFs. Grayscale has plans to incorporate its spot ETF products, including the Grayscale Bitcoin Trust ETF and the Grayscale Bitcoin Mini Trust ETF, within the BTCC fund.
On the other hand, the Bitcoin Premium Income ETF will focus on calls for BTC strike prices “well out of the money,” enabling investors to gain from potential dividend-like income as BTC appreciates.
Grayscale has indicated that both funds are actively managed, fully reliant on options, and aim to deliver monthly income distribution.