Bitwise Bitcoin ETF (BITB) Covered Calls

Running BITB covered calls helps you generate income from Bitwise Bitcoin ETF shares you already own, turning a long stock position into a yield producing asset. A covered call means holding the underlying stock and selling a call option against it, collecting premium in exchange for capping upside at the strike. Use our scanner to find the best BITB covered calls in real time and filter for the strikes, expiries, and premiums that fit your strategy.

A covered call pairs limited risk with a clear income profile. If BITB stays below the strike at expiration, you keep the premium and the shares. If it rises above, you deliver the stock at the strike and still pocket the premium. Selling BITB covered calls works best when implied volatility is elevated, since richer premiums improve the risk reward. Key inputs include strike selection relative to delta, days to expiration, annualized return, and probability of assignment, all of which determine whether a given BITB covered call is worth writing.

In seeking to achieve its investment objective, the trust will hold bitcoin and accrue the sponsor’s management fee (the “Sponsor Fee”) in U.S. dollars. The trust will value its bitcoin holdings, net assets and the shares daily based on the BRRNY. It is passively managed and does not pursue active management investment strategies, and the Sponsor does not actively manage the bitcoin held by the trust.