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Grayscale Launches New Income-Oriented Bitcoin ETFs
On Wednesday, Grayscale expanded its selection of bitcoin ETFs with two new funds. The actively managed funds each have net expense ratios of 66 basis points. First up is the Grayscale Bitcoin Covered Call ETF (BTCC). BTCC’s goal is to generate current income, with a secondary objective of tapping into bitcoin returns. To do so, the fund invests in a mix of options on different bitcoin ETPs. Among other investment vehicles, these ETPs include Grayscale’s own selection of Bitcoin ETFs. Due to the fund’s focus on income, BTCC looks to generally spell calls close to spot prices. Meanwhile, Grayscale Bitcoin ... (full story)
