Grayscale applies for listing of “Bitcoin Covered Call ETF”

Diverse Bitcoin related ETFs

U.S. virtual currency asset management company Grayscale filed an application to list a “Bitcoin Covered Call ETF” on the first day of trading for the Bitcoin spot ETF.

Grayscale has filed a new application with the SEC called “The Grayscale Bitcoin Trust Covered Call ETF,” which will generate profits by buying and selling call and put options that use GBTC (Grayscale’s Bitcoin ETF) as the reference asset. It’s a targeted investment product. This ETF does not invest directly in Bitcoin.

Grayscale Bitcoin ETF GBTC was approved by the SEC yesterday along with 10 other Bitcoin ETFs. GBTC was converted from Grayscale’s Bitcoin investment trust “GBTC” and has the highest amount of Bitcoin physical assets under management (624,947 BTC) among the current 11 stocks.

GBTC also leads the first-day trading volume ranking with over $2 billion. However, some experts pointed out that GBTC holders may shift to ETFs with higher profits and lower fees.

Source: Bloomberg

connection:
Learn about Bitcoin ETFs from the beginning: Explaining the advantages and disadvantages of investing and how to buy US stocks

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