Category Review
The median crypto option-income fund lost more than bitcoin over the year and trailed its rebound
GraniteShares YieldBOOST Bitcoin ETF
DThis fund gets its cryptocurrency exposure through futures contracts rather than holding coins directly. Futures-based returns can differ from the spot price of the coin.
$5.60+0.02 (+0.35%)
- 11.40%
- $9M
- −33.5%
- 121.22%
- 0M sh
- $5.58
- low $5.43high $17.41
The ETF.net XBTY Grade
D
Score 28 out of 100
- 20 of 22
Score 28 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F0 out of 100Rank 22 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.C52 out of 100Rank 9 of 22Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B61 out of 100Rank 7 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.D37 out of 100Rank 16 of 22
Our read on XBTY
DMost crypto income funds write options on bitcoin. XBTY sells puts on a 2x bitcoin ETF instead, deliberately harvesting roughly double the implied volatility. Income engine first, capped upside second.
The Fund seeks income primarily by selling put options on leveraged ETFs tracking a 2x Long Bitcoin Daily ETF. It also seeks capped exposure to that leveraged ETF's performance.
Why people hold it
- The design is volatility harvesting in plain sight: puts sold on a 2x bitcoin ETF, whose implied volatility is expected to run about twice bitcoin's own.graniteshares.com
- Distributions come on a weekly schedule, and GraniteShares publishes the per-share amounts across its YieldBOOST lineup ahead of each payment.graniteshares.comgraniteshares.substack.com
- The payoff shape is spelled out up front: option premium plus capped participation in the leveraged ETF. No bitcoin is held directly, no wallet involved.graniteshares.com
Worth knowing
- Cost is the hurdle: all-in expenses run into double digits as a share of assets, against roughly 1% for the typical crypto options-income fund.
- Asymmetric by construction: upside is capped, while declines in the 2x bitcoin ETF flow through and may not be offset by premium collected.graniteshares.com
- Small and thinly traded since its 2025 launch, so spreads and limit orders matter more here than in the group's larger names.
XBTY Holdings
- Other
- 6
- 101%
- US TBill 10/22/2026
XBTY 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.
XBTY$6,652
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 | XBTY |
|---|---|
| Year to date | −16.3% |
| 1 month | +2.6% |
| 3 months | +8.0% |
| 1 year | −33.5% |
| 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 | XBTY |
|---|---|---|
| 2026 YTD | −16.3% | |
| 2025 | −21.0% |
XBTY in the news
XBTY Dividends
- 121.22%
- $6.77
- $0.03 per share
- Weekly
Distribution history
XBTY Risk
- 25.5%
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.
- −1.21
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.
- −48.9%
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.
- 0.77
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
XBTY Cost
11.40%
XBTY11.40%
- The middle half of Crypto Option Income funds
- Median 0.85%
Every other Crypto Option Income fund charges less.
Other funds in Crypto Option Income
- 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%
- DXEYGraniteShares YieldBOOST Ether ETFExpense ratio 1.07%1 year return —
- DMAXISimplify Bitcoin Strategy PLUS Income ETFExpense ratio 1.31%1 year return −37.6%