Global X Bitcoin Covered Call ETF(CBOE:BCCC)

BCCC aims for a consistent income stream while providing capped upside participation in BTC-linked price returns. The fund focuses on a synthetic covered call strategy utilizing derivatives on BTC-related ETFs rather than holding BTC directly. It gains indirect exposure through options on US-listed spot and futures-based Bitcoin ETFs, as well as indices tracking baskets of Spot Bitcoin ETFs. To create the synthetic long exposure, the fund buys call options and simultaneously sells puts on the same Bitcoin ETP at the same strike price. It then writes additional call options, typically at- or out-of-the-money, to generate income via premiums. Note that this caps the funds upside participation beyond the strike prices of the written calls. The fund may use both exchange-traded and FLEX options. Investments may include short-term US Treasuries and the Global X 1-3 Month T-Bill ETF (CLIP). The fund may also gain exposure through a subsidiary in the Cayman Islands.