BTCC vs LFGY

BTCCAGrayscale Funds Trust

LFGYCYieldMax Crypto Industry & Tech Portfolio Option Income ETF

In short

BTCC Grayscale's income angle on bitcoin: rather than just holding the asset, BTCC sells calls against bitcoin ETPs to convert crypto volatility into cash. Income first, bitcoin participation second, at a fee that undercuts most of its covered-call peers.

LFGY YieldMax made its name on single-stock option income. LFGY is the spread-out version: an actively managed basket of crypto-industry and tech stocks with options written against them, paying out monthly.

Stated mandate

BTCC The Fund seeks current income and, secondarily, participation in Bitcoin returns through options on Bitcoin exchange-traded products designed to track Bitcoin's price.

LFGY The actively managed fund seeks current income and capital appreciation through a portfolio of U.S.-listed equity securities issued by crypto-industry and technology companies, while using options on those securities and related ETFs to generate income.

Why people hold it

• BTCC Runs at 0.66% a year, below the typical fee in its crypto options-income group and cheaper than peers like CEPI and DFII at 0.85%.
• The mandate is blunt: current income first, bitcoin participation second, using options on bitcoin exchange-traded products. No mystery about the job.
• Top quartile of its crypto options-income peer group, one of the stronger implementations on that shelf.
• Exposure runs through options on listed bitcoin ETPs, so no wallets, keys or crypto exchange accounts. It sits in an ordinary brokerage account.

• LFGY Not a one-ticker bet. Roughly 70 crypto-industry and tech positions carry the options overlay, so no single name drives the whole payout.
• The mandate chases current income and capital appreciation, and it's actively run, so the option book can move with the names instead of tracking a fixed index.
• Distributions come monthly, a steadier rhythm than the quarterly norm.

Worth knowing

• BTCC Covered calls swap upside for income. When bitcoin rips, the sold calls hand back part of the move, while the drawdowns still come through.
• A small fund that trades lightly, so spreads can widen. Limit orders and patience do real work here.
• Launched in 2025, so the track record is short and covers only a slice of a crypto cycle.

• LFGY The 1.02% expense ratio sits above the median for crypto option-income funds. SPBC and CEPI deliver their own crypto-plus-income tilt for less.
• Writing calls on the holdings is what funds the payout, and it trims how much of a crypto-equity rally the fund keeps.
• Launched in 2025, so the risk read rests on a short history, and it currently lands in the lower half of its crypto option-income peer group.

Full BTCC profile⁠

Full LFGY profile⁠