BPI seeks current income while gaining indirect exposure to the performance of Bitcoin-linked exchange-traded products through options. The fund primarily employs a synthetic covered call strategy that avoids direct investment in Bitcoin, instead focusing on derivatives related to Bitcoin ETPs. By investing in traditional exchange-traded options contracts, BPI replicates price movements of these ETPs through a combination of call and put options. It generates income by writing deep out-of-the-money call options, which may limit potential gains if prices of the ETPs increase significantly. The fund utilizes a wholly owned subsidiary based in the Cayman Islands to facilitate tax efficiencies while maintaining exposure. Additionally, BPI invests in short-term US Treasury securities for collateral and may use reverse repurchase agreements to manage its exposure levels. Monthly distributions are planned, contributing to the fund's structured approach to income generation.
公司网站 :
https://etfs.grayscale.com/bpi
总经理:-
建立时间:2025
公司总部:Grayscale Funds Trust Grayscale Bitcoin Premium Income ETF
领域:Miscellaneous
行业:Investment trusts/Mutual funds