{
 "ticker": "BPI",
 "name": "Grayscale Bitcoin Premium Income ETF",
 "issuer": "Grayscale",
 "desk": "income",
 "url": "https://etfiq.com/funds/bpi",
 "html": "https://etfiq.com/funds/bpi",
 "markdown": "https://etfiq.com/funds/bpi.md",
 "as_of": "2026-09-18",
 "verdict": "Since its launch on Apr 30, 2026, BPI paid 5.4% in cash and still finished 0.8 points behind IBIT.",
 "key_facts": [
  {
   "key": "cash_paid_since_launch_on_its_starting_price",
   "label": "Cash paid, since launch, on its starting price",
   "value": "5.4%",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "BPI, cash paid, since launch, on its starting price: 5.4%, as of Sep 18, 2026."
  },
  {
   "key": "total_return_since_launch",
   "label": "Total return, since launch",
   "value": "+5.4%",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "BPI, total return, since launch: +5.4%, as of Sep 18, 2026."
  },
  {
   "key": "against_ibit",
   "label": "Against IBIT",
   "value": "\u22120.8 pts",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "BPI, against IBIT: \u22120.8 pts, as of Sep 18, 2026."
  },
  {
   "key": "latest_payout_annualized",
   "label": "Latest payout, annualized",
   "value": "6.3%",
   "source": null,
   "as_of": "2026-09-18",
   "sentence": "BPI, latest payout, annualized: 6.3%, as of Sep 18, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$3m",
   "source": "SEC filing, whole fund, as filed for Jun 30, 2026",
   "as_of": "2026-09-18",
   "sentence": "BPI, net assets: $3m (SEC filing, whole fund, as filed for Jun 30, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.65%",
   "source": "485BPOS XBRL, Apr 30, 2026",
   "as_of": "2026-09-18",
   "sentence": "BPI, expense ratio: 0.65% (485BPOS XBRL, Apr 30, 2026)."
  }
 ],
 "fields": [
  {
   "key": "strategy",
   "label": "Strategy",
   "value": "covered call",
   "source": null
  },
  {
   "key": "benchmark",
   "label": "Benchmark",
   "value": "Bitcoin (IBIT) (proxy)",
   "source": null
  },
  {
   "key": "pays",
   "label": "Pays",
   "value": "monthly",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$3m",
   "source": "SEC filing, whole fund, as filed for Jun 30, 2026"
  },
  {
   "key": "latest_payout_annualized",
   "label": "Latest payout, annualized",
   "value": "6.3%",
   "source": "ETFIQ"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.65%",
   "source": "485BPOS XBRL, Apr 30, 2026"
  },
  {
   "key": "cash_paid_last_12_months_over_today_s_price",
   "label": "Cash paid, last 12 months, over today\u2019s price",
   "value": "5.4%",
   "source": "ETFIQ"
  },
  {
   "key": "launched",
   "label": "Launched",
   "value": "Apr 30, 2026",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Cash paid": "4.0%",
   "Price": "+22.0%",
   "Total return": "+26.6%",
   "IBIT": "+29.2%",
   "Ahead or behind": "\u22122.5 pts"
  },
  {
   "window": "Since launch",
   "Cash paid": "5.4%",
   "Price": "\u22120.8%",
   "Total return": "+5.4%",
   "IBIT": "+6.2%",
   "Ahead or behind": "\u22120.8 pts"
  }
 ],
 "questions": [
  {
   "q": "How much has BPI paid over the last year?",
   "a": "Over the period from its launch on Apr 30, 2026 to Sep 18, 2026, BPI paid 5.4% of its starting price in cash distributions, while the price fell 0.8%."
  },
  {
   "q": "Is BPI ahead of IBIT?",
   "a": "Over the period from its launch on Apr 30, 2026 to Sep 18, 2026, with every distribution reinvested, BPI returned +5.4% against +6.2% for Bitcoin (IBIT), so a holder was behind it by 0.8 points."
  },
  {
   "q": "How often does BPI pay, and how much?",
   "a": "BPI pays monthly. The latest distribution annualizes to 6.3% at its price on Sep 18, 2026, which is not a promise; the next one can differ."
  },
  {
   "q": "What does BPI cost?",
   "a": "The prospectus expense ratio is 0.65% a year."
  }
 ],
 "generated": "2026-09-21",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}