On Wednesday, Grayscale Investments, a crypto asset manager, will introduce options trading for its spot Bitcoin ETFs.
This comes as investors show a strong interest in such products, highlighted by the record-breaking activity on BlackRock’s iShares Bitcoin Trust (IBIT) on its first day of options trading on Tuesday.
Grayscale plans to launch options trading on GBTC (Grayscale Bitcoin Trust) and BTC (Bitcoin Mini Trust) to further develop the ecosystem around its US-listed Bitcoin exchange-traded products.
This move follows the Options Clearing Corporation’s approval of Bitcoin ETF options, prompting Grayscale to quickly file an updated prospectus for its Bitcoin Covered Call ETF on January 11.
The tool is designed to generate income by utilizing a covered call strategy, which involves writing and buying options contracts on Bitcoin exchange-traded products, while holding Bitcoin or GBTC as collateral.
