New Grayscale ETFs Leverage Bitcoin Volatility for Income Generation

Grayscale has launched two new exchange-traded funds (ETFs) designed to offer investors income-generating opportunities through bitcoin exposure. According to the press release, the Grayscale Bitcoin Covered Call ETF (BTCC) and Grayscale Bitcoin Premium Income ETF (BPI) employ covered call strategies to capitalize on bitcoin’s volatility while providing potential returns.

BTCC focuses on maximizing income by writing call options close to BTC’s spot price, making it suitable for investors prioritizing consistent cash flow. This approach generates option premiums that may help mitigate downside risks during market downturns.

Meanwhile, BPI adopts a more balanced strategy, writing call options at strike prices further out-of-the-money. This allows investors to retain some upside exposure to bitcoin’s price appreciation while benefiting from dividend-like income.

David LaValle, Global Head of ETFs at Grayscale, said,

We understand that every investor has unique needs, and we’re excited to offer these new products that not only may capture and deliver income but also offer differentiated outcomes and behavioral characteristics tailored to their specific goals.

Both ETFs are actively managed, fully options-based, and aim to distribute income monthly. By leveraging bitcoin’s volatility, these funds offer investors a unique way to generate yield while participating in the broader crypto market.

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