Key stats
About Grayscale Bitcoin Premium Income ETF
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Inception date
Apr 2, 2025
Structure
Open-Ended Fund
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Grayscale Advisors LLC
Distributor
Foreside Fund Services LLC
ISIN
US38963H4048
BPI seeks current income while gaining indirect exposure to the performance of Bitcoin-linked exchange-traded products through options. The fund primarily employs a synthetic covered call strategy that avoids direct investment in Bitcoin, instead focusing on derivatives related to Bitcoin ETPs. By investing in traditional exchange-traded options contracts, BPI replicates price movements of these ETPs through a combination of call and put options. It generates income by writing deep out-of-the-money call options, which may limit potential gains if prices of the ETPs increase significantly. The fund utilizes a wholly owned subsidiary based in the Cayman Islands to facilitate tax efficiencies while maintaining exposure. Additionally, BPI invests in short-term US Treasury securities for collateral and may use reverse repurchase agreements to manage its exposure levels. Monthly distributions are planned, contributing to the fund's structured approach to income generation.
Classification
Symbol
Geography
Global
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Cash
Bonds, Cash & Other100.00%
Cash98.89%
Mutual fund1.11%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
BPI last dividends amounted to 0.34 USD. The month before, the issuer paid 0.64 USD in dividends, which shows a 88.55% decrease.
BPI assets under management is 6.09 M USD. It's fallen 1.50% over the last month.
BPI fund flows account for 5.86 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, BPI pays dividends to its holders with the dividend yield of 8.92%. The last dividend (Sep 15, 2025) amounted to 0.34 USD. The dividends are paid monthly.
BPI shares are issued by Digital Currency Group, Inc. under the brand Grayscale. The ETF was launched on Apr 2, 2025, and its management style is Active.
BPI expense ratio is 0.66% meaning you'd have to pay 0.66% of your investment to help manage the fund.
BPI follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
BPI invests in cash.
BPI trades at a premium (0.05%) meaning the ETF is trading at a higher price than the calculated NAV.