Bitcoin has made significant progress since its inception in 2009, becoming a part of more and more investors’ portfolios. Access to Bitcoin has evolved alongside this growth, involving more specific and sophisticated strategies. Through two different approaches to systematic covered call writing, both BTCC and BPI seek to harness Bitcoin’s distinctive volatility characteristics to achieve income generation. Both strategies may be considered an alternative income stream that’s less correlated to traditional income-oriented investments.
Seeks to capture the highest premiums and therefore maximize potential income generation. May serve as a complement to existing Bitcoin ownership while adding on income.
Seeks to balance upside participation with some income generation. May serve as an alternative to Bitcoin ownership balancing growth and income.
Product Features
Differentiated Source of Income: Covered call writing on Bitcoin through BTCC and BPI delivers an uncorrelated source of income for investors.
Monthly Distributions*: Both BTCC and BPI are designed to follow a monthly distribution schedule, prioritizing a consistent cadence of distributions to investors.
Systematic Options Management: Both BTCC and BPI writes, rolls, and rebalances call options on Bitcoin ETPs, saving investors the time, operational hurdles, and expenses of doing so on their own.
Grayscale has been offering investors exposure to the crypto asset class since 2013. For more information about these products or Grayscale, please email info@grayscale.com or call 866-775-0313.
Important Disclosures
*The Funds intend to pay out dividends from net investment income, if any, and distribute any net unrealized capital gains to their shareholders at least annually.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Funds, please call (866)-775-0313 or visit our websites at etfs.grayscale.com/btcc and etfs.grayscale.com/bpi. Read the prospectuses or summary prospectuses carefully before investing.
Grayscale Bitcoin Covered Call ETF (“BTCC”) and Grayscale premium Income ETF (“BPI”) (collectively, the “Funds”) will not invest in digital assets directly. The Funds also will not invest in initial coin offerings. The Funds will, however, have indirect exposure to digital assets by virtue of its investments in derivatives on exchange-traded vehicles that hold digital assets as investments. Because the Funds will not invest directly in any digital assets, they may not track price movements of any digital assets.
BTCC and BPI are distributed by Foreside Fund Services, LLC and Grayscale Advisors, LLC is the adviser.
This communication is not directed at any person located outside the United States. Neither the Trust nor Grayscale is making an offer to sell shares or soliciting any offer to buy shares to any person located in any jurisdiction other than the United States.
This communication is the sole responsibility of the sponsor. Neither Coindesk, Inc nor any of its affiliates (“Coindesk”) are responsible for the content of this communication. Coindesk does not intend to make any offer or solicitation to any person with respect to any products and/or services referred to in this communication.
