Grayscale Bitcoin Premium Income ETF (BPI)

The Grayscale Bitcoin Premium Income ETF (BPI) seeks to provide income along with exposure to the price of bitcoin. It obtains bitcoin exposure through bitcoin exchange-traded products and generates income by selling options on them, collecting option premiums that are paid out as distributions.

Because of the options overlay, the fund's upside participation in bitcoin price rallies is limited, while it remains exposed to declines. The fund is sponsored by Grayscale Investments, a digital asset manager, and trades on NYSE Arca.