- Issuer
- Grayscale
- Inception Date
- Apr 1, 2025
- Region
- Global (Broad)
- Category
- Cryptocurrency
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Cryptocurrency
- Assets Under Management
- $16M
Share Price Chart
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Performance
BTCC Performance Chart
Grayscale Bitcoin Covered Call ETF (BTCC) is down 22.3% since the beginning of the year. BTCC is currently trading at $13 per share.
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Returns By Period
Grayscale Bitcoin Covered Call ETF (BTCC) has returned -22.27% so far this year and -34.87% over the past 12 months.
Grayscale Bitcoin Covered Call ETF
- 1D
- -2.14%
- 1M
- -15.15%
- YTD
- -22.27%
- 6M
- -21.28%
- 1Y
- -34.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.71%
- YTD
- 8.39%
- 6M
- 8.57%
- 1Y
- 24.33%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.54%
BTCC Monthly Returns History
Based on dividend-adjusted daily data since Apr 2, 2025, BTCC's average daily return is -0.08%, while the average monthly return is -1.74%.
Historically, 47% of months were positive and 53% were negative. The best month was Apr 2026 with a return of +11.5%, while the worst month was Feb 2026 at -18.2%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 5 months.
On a daily basis, BTCC closed higher 54% of trading days. The best single day was Feb 6, 2026 with a return of +7.3%, while the worst single day was Feb 5, 2026 at -13.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -3.98% | -18.16% | 4.54% | 11.53% | -3.39% | -12.19% | -22.27% | ||||||
| 2025 | 6.43% | 3.73% | 4.07% | 3.52% | -2.44% | 1.41% | -6.79% | -13.91% | -0.50% | -6.05% |
Benchmark Metrics
Grayscale Bitcoin Covered Call ETF has an annualized alpha of -33.42%, beta of 0.82, and R2 of 0.20 versus S&P 500 Index. Calculated based on daily prices since April 02, 2025.
- This ETF participated in 208.62% of S&P 500 Index downside but only -17.49% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.20 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- -33.42%
- Beta
- 0.82
- R²
- 0.20
- Upside Capture
- -17.49%
- Downside Capture
- 208.62%
Expense Ratio
BTCC has an expense ratio of 0.66%, placing it in the medium range.
Return for Risk
Risk / Return Rank
BTCC ranks 1 for risk / return — in the bottom 1% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Grayscale Bitcoin Covered Call ETF (BTCC) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BTCC | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.99 | ||
| Sortino ratioReturn per unit of downside risk | -4.05 | ||
| Omega ratioGain probability vs. loss probability | 0.81 | 1.35 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.80 | 2.66 | -3.46 |
| Martin ratioReturn relative to average drawdown | -1.45 | 11.86 | -13.31 |
Dividends
Dividend History
Grayscale Bitcoin Covered Call ETF provided a 111.40% dividend yield over the last twelve months, with an annual payout of $14.91 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $14.91 | $13.73 |
Dividend yield | 111.40% | 63.86% |
Monthly Dividends
The table displays the monthly dividend distributions for Grayscale Bitcoin Covered Call ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.78 | $0.74 | $0.73 | $0.60 | $0.63 | $0.28 | $3.77 | ||||||
| 2025 | $1.64 | $0.94 | $1.97 | $1.85 | $1.93 | $1.84 | $1.31 | $1.17 | $1.08 | $13.73 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Grayscale Bitcoin Covered Call ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Grayscale Bitcoin Covered Call ETF was 44.40%, occurring on Feb 5, 2026. The portfolio has not yet recovered.
The current Grayscale Bitcoin Covered Call ETF drawdown is 40.55%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 bear market2026 | -44.40%Feb 2026 | 5mo 25d | — | 10mo 12dAug 2025 - now |
2025 selloff2025 | -7.27%Apr 2025 | 5d | 8d | 13dApr 2025 - Apr 2025 |
2025 pullback2025 | -2.86%Aug 2025 | 7d | 6d | 13dJul 2025 - Aug 2025 |
2025 selloff2025 | -2.11%Jun 2025 | 1d | 4d | 5dJun 2025 - Jun 2025 |
2025 selloff2025 | -2.03%Jun 2025 | 3d | 5d | 8dJun 2025 - Jun 2025 |
Drawdown Indicators
| BTCC | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.40% | -56.78% | +12.38% |
Max Drawdown (1Y)Largest decline over 1 year | -44.40% | -9.10% | -35.30% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -40.55% | -2.49% | -38.06% |
Average DrawdownAverage peak-to-trough decline | -16.43% | -10.72% | -5.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.40% | 2.03% | +22.37% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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