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BTCC vs MAXI

Grayscale Funds Trust

BTCCBNYSE Arca

Simplify Bitcoin Strategy PLUS Income ETF

MAXIFNasdaq

Overlap

0.0%by weight

Expense ratio

BTCC −0.86pt a year

BTCC0.66%MAXI1.52%

Avg volume · 30D

BTCC 1.00×the volume

BTCC23.9KMAXI23.8K

BTCC vs MAXI Performance

Oct 31, 2025 – Oct 30, 2026

−27.4%BTCC−42.8%MAXI

Oct 31, 2025 to Oct 30, 2026. BTCC −27.4%. MAXI −42.8%. Use the arrow keys to read each point.−60%−50%−20%−10%0%Oct 2025Apr 2026Oct 2026
Expense ratio
BTCC 0.66%, better
MAXI 1.52%
Fund size
BTCC $15M
MAXI $29M
1Y total return
BTCC −27.4%, better
MAXI −42.8%
Yield (12M)
BTCC 65.93%, better
MAXI 16.89%
Holdings
BTCC 4
MAXI 15
Avg volume (30D)
BTCC 23.9K sh, better
MAXI 23.8K sh
NAV per share
BTCC $12.40
MAXI $12.27
52W range

ETF.net Grade

BTCC: Cost 90, Risk 65, Mission not scored, Tradability 44, Holdings not scored, Durability 51. MAXI: Cost 0, Risk 27, Mission not scored, Tradability 48, Holdings not scored, Durability 70.
Pillar letters and Scores for BTCC, MAXI, with each pillar’s weight
PillarBTCCMAXI
Cost30% weightA90HigherF0
Mission25% weightNot scoredNot scored
Risk15% weightB65HigherD27
Tradability15% weightC44C48Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC51A70Higher

Rank among Crypto Option Income funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BTCC and MAXI are both graded against the same 21 Crypto Option Income funds, so their Grades compare head to head.

Crypto Option Income⁠

Category · 21 funds
See all 21 ›

BTCC ranks 2nd and MAXI 21st of 21 funds in the Crypto Option Income Category.

  1. Rank 1ABITAThe iShares Bitcoin Premium Income ETFScore 88
  2. Rank 2BBTCCGrayscale Funds TrustScore 70
  3. Rank 3BBAGYAmplify Bitcoin Max Income Covered Call ETFScore 64
  4. Rank 20FXEYGraniteShares YieldBOOST Ether ETFScore 24
  5. Rank 21FMAXISimplify Bitcoin Strategy PLUS Income ETFScore 22

Our read on each fund

ETF.net Research

BTCCBGrayscale Funds Trust

MAXIFSimplify Bitcoin Strategy PLUS 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.

MAXI Bitcoin exposure with a side job. MAXI pairs bitcoin futures and bitcoin-linked ETPs with an actively managed options overlay aimed at income as well as price, priced like the hands-on strategy it is.

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.

MAXI The Fund seeks income and capital appreciation through Bitcoin exposure obtained via Bitcoin futures and/or Bitcoin-related exchange-traded products, together with an actively managed options overlay.

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.
  • MAXI Not a plain covered-call sleeve: bitcoin exposure via futures and bitcoin-related ETPs, wrapped in an actively managed options overlay targeting income and capital appreciation.simplify.us
  • Trading since 2022, an early entrant in the bitcoin-plus-income niche with a multi-year operating history behind it.
  • Runs inside the standard 1940 Act ETF wrapper, from a shop that also builds the equity-plus-bitcoin version, SPBC.

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.
  • MAXI The overlay costs money: 1.31% a year, above the typical fee in its crypto-income group. Cheaper routes exist, such as BTCI at 0.99% and CEPI at 0.85%.
  • Small and thinly traded, so spreads can be wide. Limit orders do real work here.
  • Distributions are irregular rather than a set monthly check, and derivative-based bitcoin exposure can behave differently from holding spot.

Full BTCC profile⁠

Full MAXI profile⁠

BTCC vs MAXI Holdings

How BTCC and MAXI differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of BTCC and 0.0% of MAXI.

Level by level

  • Holdings0 in both0.0%
  • Asset classAlternatives100%
  • Countryby domicile100%

Sector

No Sector split for BTCC.

Country, concentration and asset class

Country by domicile

Country weights in BTCC and MAXI, widest gap first
CountryMore in BTCCMore in MAXI
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • BTCC108.4%
  • MAXI102.0%

Securities held

  • BTCC3
  • MAXI13

Asset class

BTCC
Alternatives
MAXI
Alternatives

Holdings

  • Only in BTCC3
  • In both0
  • Only in MAXI13

Only in BTCC

3 securities, 100% of BTCC by weight

  • United States Treasury Bill 12/24/202693.90%
  • Gbtc 03/19/2027 56.54 C13.41%
  • First American Government Obligations Fund 12/01/20310.09%

Only in MAXI

13 securities, 58.2% of MAXI by weight

  • Ishares Bitcoin Trust29.09%
  • B 3/11/27 Govt10.82%
  • B 1/12/27 Govt7.92%

Weight gaps

BTCC and MAXI share no securities.

All 6 BTCC holdings⁠All 39 MAXI holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BTCC vs MAXI Cost

Overpaying MAXI vs BTCC

$13,670

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BTCC 0.66%

    $12,896

  • MAXI 1.52%

    $26,566

$10,000
30 years

Cost over time

  • BTCC 0.66%
  • MAXI 1.52%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530MAXI $26,566BTCC $12,896

Year by year

YearBTCCMAXIOverpaying
10$1,180$2,622$1,442
20$4,504$9,630$5,126
30$12,896$26,566$13,670

Expense ratio

  • 0.66%BTCC, cheaper
  • 1.52%MAXI
  • Middle half of Crypto Option Income funds
  • Median 0.85%

BTCC 5th cheapest of 21 funds

MAXI 21st cheapest of 21 funds

BTCC vs MAXI Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
BTCC 65.93%, better
MAXI 16.89%
Payout (12M)
BTCC $8.16
MAXI $2.07
Last payment
BTCC $0.22
MAXI $0.05
Ex-dividend
BTCC Oct 29, 2026
MAXI Oct 27, 2026
Paid on
BTCC Oct 30, 2026
MAXI Oct 30, 2026
Frequency
BTCC Irregular
MAXI Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

BTCCIrregular · 34 paymentsAll BTCC payments⁠
One bar per payment. 34 payments from 2023 to 2026 YTD. Apr 30, 2025 $1.64; May 21, 2025 $0.94; Jun 25, 2025 $1.97; Jul 23, 2025 $1.85; Aug 14, 2025 $0.74; Aug 28, 2025 $1.18; Sep 12, 2025 $0.95; Sep 29, 2025 $0.89; Oct 14, 2025 $0.70; Oct 29, 2025 $0.62; Nov 13, 2025 $0.60; Nov 26, 2025 $0.57; Dec 12, 2025 $0.55; Dec 29, 2025 $0.53; Jan 14, 2026 $0.41; Jan 29, 2026 $0.37; Feb 12, 2026 $0.37; Feb 26, 2026 $0.37; Mar 12, 2026 $0.36; Mar 30, 2026 $0.37; Apr 14, 2026 $0.22; Apr 29, 2026 $0.38; May 14, 2026 $0.35; May 28, 2026 $0.28; Jun 12, 2026 $0.28; Jun 29, 2026 $0.26; Jul 14, 2026 $0.19; Jul 30, 2026 $0.26; Aug 13, 2026 $0.23; Aug 28, 2026 $0.22; Sep 14, 2026 $0.23; Sep 29, 2026 $0.26; Oct 14, 2026 $0.26; Oct 29, 2026 $0.22. Use the arrow keys to read each point.$0$2.5020232026YTD
MAXIMonthly · 43 paymentsAll MAXI payments⁠
One bar per payment. 43 payments from 2023 to 2026 YTD. Feb 23, 2023 $0.15; Mar 27, 2023 $0.15; Apr 25, 2023 $0.15; May 25, 2023 $0.15; Jun 27, 2023 $0.15; Jul 26, 2023 $0.15; Aug 28, 2023 $0.15; Sep 27, 2023 $0.15; Oct 26, 2023 $0.15; Nov 27, 2023 $0.15; Dec 26, 2023 $4.18; Jan 26, 2024 $0.15; Feb 26, 2024 $0.15; Mar 25, 2024 $0.15; Apr 25, 2024 $0.15; May 24, 2024 $0.15; Jun 25, 2024 $0.15; Jul 26, 2024 $1.00; Aug 27, 2024 $1.00; Sep 25, 2024 $1.00; Oct 28, 2024 $1.00; Nov 25, 2024 $2.00; Dec 23, 2024 $1.67; Jan 28, 2025 $0.15; Feb 25, 2025 $0.10; Mar 26, 2025 $0.10; Apr 25, 2025 $0.30; May 27, 2025 $0.50; Jun 25, 2025 $0.35; Jul 28, 2025 $1.00; Aug 26, 2025 $1.00; Sep 25, 2025 $1.00; Oct 28, 2025 $1.00; Nov 21, 2025 $1.00; Dec 23, 2025 $0.51; Jan 27, 2026 $0.10; Apr 27, 2026 $0.10; May 26, 2026 $0.10; Jun 25, 2026 $0.08; Jul 28, 2026 $0.03; Aug 26, 2026 $0.05; Sep 25, 2026 $0.05; Oct 27, 2026 $0.05. Use the arrow keys to read each point.$0$2.5020232026YTD

BTCC vs MAXI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BTCC 29.0%since May 2025MAXI 69.0%
Return per unit of riskSharpe ratio, 3 years
BTCC −0.65since May 2025MAXI 0.44
Worst fallMax drawdown, 5 years
BTCC −44.3%since Apr 2025MAXI −69.5%since Sep 2022
Market sensitivityBeta, 5 years
BTCC 1.01MAXI 1.57

BTCC and MAXI in the news

All news⁠

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