Grayscale Ethereum Covered Call ETF
CThis fund concentrates its exposure in one company, using derivatives rather than holding the shares directly. Its results depend on that single stock.
$8.55+0.01 (+0.10%)
- 0.66%
- $4M
- −39.3%
- 128.64%
- 0M sh
- $8.48
- low $7.79high $30.31
The ETF.net ETCO Grade
C
Score 40 out of 100
- 13 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
- 54
- This cap took
- −14
- 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.D25 out of 100Rank 18 of 22Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F11 out of 100Rank 22 of 22Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C47 out of 100Rank 15 of 22
Our read on ETCO
CMost crypto income funds are bitcoin plays. ETCO writes calls on Ethereum ETPs instead, hunting current income from ether's option premiums while keeping a slice of the price moves, at a fee below its peer group's median.
The actively managed ETF seeks current income through indirect exposure to Ether returns via options on Ethereum ETPs. It uses a synthetic covered-call strategy, selling calls to generate income while retaining participation in the ETPs’ price movements.
Why people hold it
- At 0.66%, the fee undercuts the typical crypto options-income fund and matches Grayscale's bitcoin sibling BTCC; REX's CEPI charges 0.85%.
- Sells calls for income but retains participation in the Ethereum ETPs' price movements, so a rally is not entirely signed away.
- Actively managed, so the call writing is a manager's call rather than a fixed index rule.
- Income lands on a recurring schedule instead of one annual lump.
Worth knowing
- Exposure is synthetic: options on Ethereum ETPs (ETHE and ETH), not ether itself, which puts a derivatives layer between the fund and the coin.
- Writing calls trades away part of the upside while ether's drawdowns still flow through. Income is the payoff, not a cushion.
- A small, thinly traded fund launched in 2025: spreads can run wider than at the category's largest names, and the track record is short.
ETCO Holdings
- Other
- 4
- 117%
- United States Treasury Bill 12/24/2026
ETCO 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.
ETCO$6,073
Returns run to the Oct 12, 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 | ETCO |
|---|---|
| Year to date | −27.5% |
| 1 month | −1.3% |
| 3 months | +14.2% |
| 1 year | −39.3% |
| 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 | ETCO |
|---|---|---|
| 2026 YTD | −27.5% | |
| 2025 | −24.5% |
ETCO in the news
ETCO Dividends
- 128.64%
- $10.99
- $0.19 per share
- Irregular
Distribution history
ETCO Risk
- 42.8%
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.
- −1.10
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.
- −59.2%
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.
- 0.68
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
ETCO Cost
0.66%
ETCO0.66%
- The middle half of Crypto Option Income funds
- Median 0.85%
2 of the 21 Crypto Option Income funds charge less.
Other funds in Crypto Option Income
- CBPIGrayscale Bitcoin Premium Income ETFExpense ratio 0.66%1 year return −25.6%
- CEHYAmplify ETF Trust - Amplify Ethereum Max Income Covered Call ETFExpense ratio 0.75%1 year return −45.7%
- CETTYAmplify ETF Trust - Amplify Ethereum 3% Monthly Option Income ETFExpense ratio 0.75%1 year return −43.1%
- CSOLMAmplify ETF Trust - Amplify Solana 3% Monthly Option Income ETFExpense ratio 0.75%1 year return —
- DYBITYieldMax Bitcoin Option Income Strategy ETFExpense ratio 1.02%1 year return −27.6%