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BTCC Grayscale Bitcoin Covered Call ETF

Covered call on IBIT, paying monthly

Over the year to Sep 18, 2026, BTCC paid 29.0% in cash and still finished 1.4 points behind IBIT.

Grayscale · Income ETFs · data as of

Key facts

29.0%Cash paid, 1 year, on its starting price
−32.5%Total return, 1 year
−1.4 ptsAgainst IBIT
20.2%Latest payout, annualized

Method

ETFIQ Return Stability Score

29.8143rd of 173

BTCC paid 29.0% in cash. Its price fell 59.1%, so 100% of what you were paid came back out of your own capital.

Was the payout funded by returns, or by your own capital?

Against its benchmark
MLPD −35.8 ptsMDST −28.6 ptsEIPI −26.8 ptsBLOX −26.6 ptsYQQQ −25.3 ptsULTY −24.3 ptsSLTY −22.7 ptsGDXY −21.4 ptsTDVI −20.9 ptsTOPW −19.8 ptsHIGH −18.8 ptsACKY −17.9 ptsYMAX −16.8 ptsHISF −16.4 ptsNDIV −16.4 ptsSDVD −16.4 ptsWEEI −15.8 ptsOARK −15.2 ptsFDND −14.1 ptsSCLZ −14.0 ptsLFGY −13.6 ptsXLRI −13.6 ptsTCAL −13.5 ptsQRMI −13.3 ptsSLJY −13.2 ptsYYY −13.2 ptsYFYA −13.1 ptsHIPS −12.8 ptsJULH −12.1 ptsRNTY −12.0 ptsXLKI −12.0 ptsXBTY −11.8 ptsQUSA −11.7 ptsJULJ −11.5 ptsLJUL −11.5 ptsJANJ −11.4 ptsLJAN −11.4 ptsFGSI −11.3 ptsLOCT −11.2 ptsQLDY −11.2 ptsOCTJ −11.1 ptsCVRD −11.0 ptsIWMY −10.9 ptsJUCY −10.9 ptsAPRJ −10.5 ptsLAPR −10.5 ptsXISE −10.5 ptsXIJN −10.3 ptsAPRH −10.1 ptsJANH −10.1 ptsXIDE −10.1 ptsXLEI −10.0 ptsOCTH −9.9 ptsJEPI −9.5 ptsAIPI −9.4 ptsMAGY −9.4 ptsBAGY −9.2 ptsXIMR −9.1 ptsSRHR −8.8 ptsBUYW −8.1 ptsRDVI −8.0 ptsIAUI −7.7 ptsOVLH −7.5 ptsVEGA −7.2 ptsXV −7.1 ptsYBTC −7.1 ptsFTHI −6.9 ptsBITY −6.7 ptsXLVI −6.7 ptsXRMI −6.3 ptsIGLD −6.2 ptsFEPI −6.1 ptsYLDE −6.0 ptsGPTY −5.7 ptsKHPI −5.5 ptsQQQI −5.3 ptsSPIN −5.2 ptsTYLG −5.2 ptsSPUT −5.1 ptsETCO −4.8 ptsWTPI −4.6 ptsCAIE −4.1 ptsIQQQ −4.1 ptsPAPI −3.8 ptsBIGY −3.6 ptsJEPQ −3.2 ptsXLBI −3.2 ptsISPY −3.1 ptsIWMW −3.0 ptsWEEL −2.3 ptsGIAX −2.1 ptsDIVO −2.0 ptsKNG −1.6 ptsQDTY −1.6 ptsDFII −1.5 ptsRDTY −1.5 ptsTSPY −1.5 ptsYMAG −1.5 ptsNBOS −1.4 ptsNIHI −1.4 ptsEGGY −1.2 ptsSPYI −1.2 ptsRYLD −1.1 ptsRYLG −1.0 ptsXDTE −1.0 ptsXPAY −0.9 ptsSDTY −0.8 ptsWDTE −0.8 ptsJOYT −0.7 ptsQDTE −0.7 ptsKGLD −0.6 ptsQQQY −0.6 ptsRDTE −0.6 ptsTHTA −0.6 ptsXLII −0.6 ptsFTKI −0.5 ptsGPIQ −0.4 ptsFTQI −0.3 ptsSIXH −0.3 ptsDJIA +0.2 ptsLTTI +0.2 ptsDYLG +0.3 ptsGPIX +0.4 ptsXLFI +0.4 ptsQYLG +0.5 ptsHYBI +0.6 ptsHYTI +0.6 ptsIVVW +0.6 ptsLQTI +0.6 ptsXYLG +0.7 ptsTDAQ +1.0 ptsIWMI +1.1 ptsQYLD +1.2 ptsCSHI +1.3 ptsTLTX +1.3 ptsXYLD +1.4 ptsHYGW +1.5 ptsHYBL +1.6 ptsBNDI +1.7 ptsOVS +1.7 ptsPBP +1.9 ptsTLTI +1.9 ptsXLUI +1.9 ptsBALI +2.0 ptsBTCI +2.0 ptsCHPY +2.3 ptsOVB +2.3 ptsOVT +2.3 ptsYBIT +2.3 ptsITWO +2.4 ptsOVL +2.6 ptsYETH +2.8 ptsOVM +2.9 ptsTLTP +3.0 ptsSOXY +3.5 ptsDUBS +3.7 ptsLQDW +3.8 ptsXLYI +4.1 ptsTLTW +4.2 ptsOVF +4.5 ptsDOGG +4.6 ptsOMAH +4.9 ptsIDVO +5.2 ptsSEPI +5.2 ptsBCCC +5.9 ptsCEPI +6.0 ptsIDUB +7.2 ptsXLCI +7.9 ptsBUCK +9.6 ptsUSOY +11.6 ptsXLSI +12.5 ptsKLIP +22.5 ptsBTCC −1.4 ptsBTCC −1.4 pts−35.8 pts+22.5 pts

56.9% of the 173 sit at or below BTCC on this measure.

What happened to the principal
ETCO −75.5%XBTY −74.1%YETH −66.4%YBTC −60.1%YBIT −58.9%BAGY −57.9%ULTY −54.1%BITY −51.5%SLTY −51.5%BCCC −48.5%BTCI −47.0%LFGY −44.7%DFII −43.7%BLOX −40.9%YMAX −40.7%TOPW −37.7%OARK −34.0%GDXY −33.1%KLIP −32.5%YMAG −28.1%YQQQ −25.7%MAGY −25.3%IWMY −24.9%CEPI −22.5%RDTY −21.8%RDTE −21.4%QLDY −20.3%QDTE −19.2%TLTX −18.5%EGGY −16.2%XLYI −15.5%ACKY −15.1%WDTE −14.8%QDTY −14.0%AIPI −13.8%TLTP −13.4%XDTE −13.4%QQQY −13.2%LTTI −12.6%XLUI −11.3%QUSA −11.0%SDTY −10.8%GIAX −10.5%FEPI −10.0%TLTW −9.9%LQTI −9.7%XLRI −9.4%TLTI −9.1%LQDW −8.8%XLCI −8.8%XV −8.8%YYY −8.8%TCAL −8.6%HIGH −8.3%FDND −8.2%GPTY −8.1%IGLD −7.9%RNTY −7.3%HIPS −7.0%HYTI −6.8%XLSI −6.5%OMAH −6.3%XLBI −6.3%IWMW −6.2%XLFI −6.2%HYGW −6.0%XPAY −5.8%HYBI −5.5%OVB −5.0%BNDI −4.9%USOY −4.8%HISF −4.7%OVT −4.3%QRMI −3.8%OVM −3.6%FGSI −3.2%HYBL −2.8%CAIE −2.5%JUCY −2.5%XRMI −2.4%BUCK −2.2%CVRD −2.2%MLPD −2.1%IAUI −2.0%IVVW −2.0%YFYA −1.7%JEPI −1.2%XLII −1.2%XIJN −0.9%WTPI −0.8%JULJ −0.6%XISE −0.6%CSHI −0.4%JULH −0.4%KNG −0.4%BIGY −0.3%LJUL −0.3%QQQI −0.1%TSPY −0.1%JANH 0.0%JANJ 0.0%LAPR 0.0%OCTH 0.0%XIDE 0.0%APRJ +0.1%LJAN +0.1%LOCT +0.1%OCTJ +0.1%APRH +0.3%FTHI +0.3%XIMR +0.5%WEEL +0.7%SRHR +1.0%SDVD +1.2%SPYI +1.2%IWMI +1.3%KHPI +1.5%BUYW +2.1%DJIA +2.4%QYLG +2.4%XYLG +2.6%YLDE +2.6%NIHI +2.8%RYLD +2.9%KGLD +3.4%TDAQ +3.4%DYLG +3.5%FTKI +3.8%XLVI +4.0%SCLZ +4.1%THTA +4.1%RYLG +4.2%PAPI +4.5%XLKI +4.6%PBP +5.5%JEPQ +5.7%SPIN +5.8%XYLD +5.9%NBOS +6.0%SPUT +6.0%DIVO +7.3%GPIX +7.4%ISPY +7.6%DOGG +8.0%FTQI +8.0%MDST +8.2%TDVI +8.2%OVF +8.3%OVS +8.5%OVLH +8.8%VEGA +8.9%QYLD +9.1%BALI +9.2%GPIQ +9.3%OVL +9.4%RDVI +9.6%ITWO +10.5%IQQQ +10.8%SLJY +12.3%EIPI +12.8%XLEI +12.8%SEPI +13.4%SIXH +14.1%IDVO +14.4%JOYT +15.2%WEEI +17.3%IDUB +17.4%DUBS +17.6%NDIV +20.4%CHPY +20.6%TYLG +20.6%SOXY +64.1%BTCC −59.1%BTCC −59.1%−75.5%+64.1%

2.6% of the 173 sit at or below BTCC on this measure.

Weighted evenly, those two positions are what the score combines, across the 173 income ETFs writing on an index or proxy. Neither spread above is the score: a fund can sit further right on one and score lower. A position in this set, not a rating: it moves when the set moves, and it is not a figure to average against another desk's.

What the score is computed from
What it measuresThis fundIts percentileWeight
against its benchmark−1.4 pts56.950%
what happened to the principal−59.1%2.650%

All income ETFs ranked by this score · How it is computed

What a holder got

BTCC against IBITBTCC returned −32.5% with distributions reinvested against −31.1% for Bitcoin (IBIT), a gap of −1.4 pts. Of that, 29.0% arrived as cash rather than price.−32.5%BTCC total return−31.1%Bitcoin (IBIT)

Over the year to Sep 18, 2026, BTCC returned −32.5% with distributions reinvested and Bitcoin (IBIT) returned −31.1%, so a holder came out behind it by 1.4 points. The lighter segment is the 29.0% that arrived as cash rather than as price.

Method

Period by period

BTCC over each window to Sep 18, 2026. Every figure is an ETFIQ calculation. Source: ETFIQ.
WindowCash paidPriceTotal returnIBITAhead or behind
3 months10.4%+1.4%+12.8%+29.2%−16.4 pts
6 months20.2%−16.7%+4.3%+15.7%−11.4 pts
1 year29.0%−59.1%−32.5%−31.1%−1.4 pts
Since launch53.5%−61.5%−17.7%−6.9%−10.8 pts

Method

When BTCC pays

BTCC pays monthly. The last distribution was $0.2283 a share, which went ex on Sep 14, 2026, with payment about 2 days later. The next has not been declared. On its own cadence of about 15 days the ex-date falls near Sep 29, 2026; that date is an ETFIQ projection, not the issuer’s.

Expected distributions for BTCC. Where the basis is a projection, ETFIQ has carried the fund’s own spacing forward from its last ex-date and held the amount at the last one paid; neither is an issuer statement. Source: ETFIQ.
Ex-datePay dateAmountBasis
Sep 29, 2026Oct 1, 2026$0.2283ETFIQ projection
Oct 14, 2026Oct 16, 2026$0.2283ETFIQ projection
Oct 29, 2026Nov 2, 2026$0.2283ETFIQ projection
Every distribution ETFIQ holds for BTCC (13, most recent first)
Cash distributions per share for BTCC. Source: ETFIQ from Tiingo end-of-day distributions.
Ex-dateAmount
Sep 14, 2026$0.2283
Aug 28, 2026$0.2225
Aug 13, 2026$0.2327
Jul 30, 2026$0.2636
Jul 14, 2026$0.1921
Jun 29, 2026$0.2587
Jun 12, 2026$0.2848
May 28, 2026$0.2845
May 14, 2026$0.3472
Apr 29, 2026$0.3775
Apr 14, 2026$0.2249
Mar 30, 2026$0.3739
Mar 12, 2026$0.3574

Every income ETF going ex-dividend in the next fortnight

Method

In plain words

Since it launched on Apr 2, 2025, BTCC has returned −17.7% with distributions reinvested, against −6.9% for Bitcoin (IBIT), and has paid out 53.5% of its starting value in cash along the way. It pays monthly, and at its current price the latest distribution annualizes to 20.2%. No Rule 19a-1 notice has been published for this fund, so there is no issuer estimate of how much of its distributions was a return of capital.

BTCC (Grayscale Bitcoin Covered Call ETF), income ETFs fields as of Sep 18, 2026. Source: ETFIQ.
Strategycovered call
BenchmarkBitcoin (IBIT) (proxy)
Paysmonthly
Net assets (the issuer’s own daily fund list, as of Sep 18, 2026)$17m
Latest payout, annualized (ETFIQ)20.2%
Expense ratio (485BPOS XBRL, Apr 30, 2026)0.65%
Cash paid, last 12 months, over today’s price (ETFIQ)70.8%
LaunchedApr 2, 2025
Paysmonthly
Typical gap between ex-dates15 days
Typical wait from ex-date to payment2 days
Last paid, per share$0.2283 ex Sep 14, 2026
Sum of the last 12 distributions$3.2906

Every figure is an ETFIQ calculation from exchange prices and cash distributions (Tiingo end-of-day), total return with distributions reinvested. Return of capital is the issuer’s estimate. How these figures are computed

Questions people ask

How much has BTCC paid over the last year?
Over the year to Sep 18, 2026, BTCC paid 29.0% of its starting price in cash distributions, while the price fell 59.1%.
Is BTCC ahead of IBIT?
Over the year to Sep 18, 2026, with every distribution reinvested, BTCC returned −32.5% against −31.1% for Bitcoin (IBIT), so a holder was behind it by 1.4 points.
How often does BTCC pay, and how much?
BTCC pays monthly. The latest distribution annualizes to 20.2% at its price on Sep 18, 2026, which is not a promise; the next one can differ.
When does BTCC next pay a distribution?
BTCC pays monthly. The last distribution went ex on Sep 14, 2026 at $0.2283 a share. The next is not declared; on a cadence of about 15 days the ex-date falls near Sep 29, 2026, which is an ETFIQ projection. Payment usually follows the ex-date by 2 days.
What does BTCC cost?
The prospectus expense ratio is 0.65% a year.

The words on this page

Total return
What a holder actually ended up with: price change plus every distribution, reinvested. The only figure that answers whether you came out ahead.
Cash paid
Distributions over the window as a share of what the fund cost at the start. A measure of cash delivered, not of return: a fund can pay a great deal and still lose money.
Ahead or behind
The fund’s total return minus the benchmark’s over exactly the same days, in percentage points. Both sides reinvest.
Return of capital
The issuer’s own estimate, in a Rule 19a-1 notice, of how much of a distribution was your own money returned. An estimate and a tax characterization, not a measure of erosion.
Covered call
Selling call options on shares the fund holds. It collects a premium and gives up the gains above the strike, which is why these funds pay well and lag a rising market.

Every term used here, defined in full on the income ETFs vocabulary page.

Where these figures came from

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.

Compare BTCC

Also against BLOX, BPI, BTCI, CEPI, DFII, EHCC, EHY, ETCO, ETTY, LFGY, NEHI, SOLM, XBCI, XBTY, XEY, XRPM, YBIT, YBTC, YETH.

Funds near this one

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BTCC payout bar, ETFIQ

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<p><a href="https://etfiq.com/funds/btcc">BTCC payout bar, updated daily by ETFIQ</a></p>

Where BTCC is written about

BTCC, Income ETFs, ETFIQ, data as of Sep 18, 2026. Every figure is calculated from a named public source; the method is at etfiq.com/methodology. ETFIQ is an independent publisher, is not a fund issuer, broker-dealer or investment adviser, and makes no recommendations.
Use this data, or open the live card

Open BTCC live on ETFIQ, where the figures refresh with the data.

Cite this page. ETFIQ, BTCC, income ETFs, data as of Sep 18, 2026. https://etfiq.com/funds/btcc Free to use with attribution; the underlying files are at Open data.

How these figures are computed · Standards and sources