Grayscale Bitcoin Premium Income ETF
$23.58+0.02 (+0.10%)
- 0.65%
- $2M
- −26.6%
- 20.39%
- 1.59K sh
- low $18.55high $37.96
The ETF.net BPI Grade
C
Score 40 out of 100
- 12 of 22
Score 40 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Very small fund, grade capped at C.
The cap holds the Score at 40 or below, so B and A are out of reach.
- The pillars earned
- 61
- This cap took
- −21
- Published Score
- 40
Cost
The fund’s net expense ratio, ranked against its category.A90 out of 100Rank 1 of 22Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C50 out of 100Rank 11 of 22Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F13 out of 100Rank 22 of 22Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A70 out of 100Rank 2 of 14Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C48 out of 100Rank 14 of 22
Our read on BPI
In short
CGrayscale's two bitcoin income funds split the work: one sells calls right at spot, BPI writes them well out of the money, leaving room to run before the cap bites. It never touches bitcoin itself, only options on bitcoin ETPs.
Stated mandate
The Fund seeks current income and potential capital appreciation through an actively managed synthetic covered-call strategy using options on Bitcoin exchange-traded products, including GBTC and BTC, rather than investing directly in digital assets.
Why people hold it
Worth knowing
BPI Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
BPI$7,335
Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | BPI |
|---|---|
| Year to date | −9.1% |
| 1 month | −6.4% |
| 3 months | +20.8% |
| 1 year | −26.6% |
| 3 years | |
| 5 years | |
| 10 years |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | BPI |
|---|---|---|
| 2026 YTD | −9.1% | |
| 2025 | −1.3% |
BPI in the news
BPI Dividends
- 20.39%
- $4.80
- $0.18 per share
- Irregular
BPI Risk
- 38.7%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.24
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −49.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 1.46
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.
BPI Cost
Tied cheapest in Crypto Option Income
$12,717
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
BPI 0.65%
$12,717
Cost over time
Year by year
| Year | BPI |
|---|---|
| 10 | $1,163 |
| 20 | $4,440 |
| 30 | $12,717 |
Other funds in Crypto Option Income
- CNEHINEOS Ethereum High Income ETFExpense ratio 0.98%1 year return
- CYETHRoundhill Ether Covered Call Strategy ETFExpense ratio 0.96%1 year return −39.4%
- CEHYAmplify Ethereum Max Income Covered Call ETFExpense ratio 0.75%1 year return −52.1%
- CETCOGrayscale Ethereum Covered Call ETFExpense ratio 0.65%1 year return −43.4%
- CETTYAmplify Ethereum 3% Monthly Option Income ETFExpense ratio 0.75%1 year return −48.8%
