BITA vs YETH

BITAAThe iShares Bitcoin Premium Income ETF

YETHCRoundhill Ether Covered Call Strategy ETF

In short

BITA BlackRock's take on the bitcoin income trade: own actual bitcoin, then sell calls on only a quarter to a third of it. Most crypto covered-call funds hand over the upside to buy the yield. This one is built to leave most of it on the table.

YETH Ether's volatility, repackaged as weekly income. YETH doesn't hold ether: it builds the exposure with options on spot ether ETFs, then sells weekly calls against that position, swapping the biggest upside weeks for premium.

Stated mandate

BITA The Trust seeks to reflect the performance of bitcoin while generating premium income through an actively managed strategy of selling call options primarily on IBIT shares and, from time to time, on ETP indices.

YETH The Fund seeks current income and secondary exposure to the price return of Ether ETFs traded on U.S.-regulated exchanges. It uses synthetic covered calls, primarily through options on Ether ETFs, to create that exposure while generating income.

Why people hold it

• BITA Holds spot bitcoin and IBIT shares directly, and the sponsor aims to write calls on a predetermined 25% to 35% of notional value, leaving the majority of the position unwritten.sec.gov
• 0.65% expense ratio, below the 0.85% typical of crypto options-income funds and at the low end of the category's strongest implementations (BTCC 0.66%, CEPI 0.85%, YBTC 0.96%).
• The partnership wrapper earns its keep: IBIT options are Section 1256 contracts eligible for 60/40 blended rates, and partnerships skip forced year-end capital gain distributions.ishares.com
• Among the better-built options in a crowded crypto income shelf, with the calls written on IBIT, the deepest-traded bitcoin ETP options market.ishares.com

• YETH The income engine is mechanical: sell weekly FLEX calls on ether ETFs, then distribute on a weekly schedule the fund expects (but doesn't guarantee) to keep.roundhillinvestments.com
• No wallets, no keys, no custody. An at-the-money FLEX call stands in for the coin, all inside a 1940 Act fund that reports like any other ETF.roundhillinvestments.com
• At 0.96%, the fee sits right at the median for crypto options-income funds, and the overall build lands in the upper half of that 19-fund group.
• Trading since September 2024, weeks after US spot ether ETFs listed, so it has a live record through real ether drawdowns rather than a backtest.roundhillinvestments.com

Worth knowing

• BITA That same partnership structure means a Schedule K-1 instead of a 1099, which lands later in tax season and can add filing steps.ishares.com
• Calls written on part of the book cap gains on that slice. The premium income is paid for with upside, not conjured from thin air.sec.gov
• Launched in 2026 and structured as a trust outside the Investment Company Act, so the record is short and it trades lighter than the category's biggest names.sec.gov

• YETH Upside is capped every week calls are written. A ripping ether rally leaves you with the premium and only part of the move.roundhillinvestments.com
• Distributions can exceed income and gains. The excess is return of capital: your own money coming back, with NAV lower for it.roundhillinvestments.com
• Ether's downside comes through largely intact; premium cushions, it doesn't hedge. Cheaper crypto-income builds exist, including SPBC at 0.54%.

Full BITA profile⁠

Full YETH profile⁠