{
 "ticker": "IMST",
 "name": "Bitwise MSTR Option Income Strategy ETF",
 "issuer": "Bitwise",
 "desk": "income",
 "url": "https://etfiq.com/funds/imst",
 "html": "https://etfiq.com/funds/imst",
 "markdown": "https://etfiq.com/funds/imst.md",
 "as_of": "2026-07-31",
 "verdict": "Over the year to Jul 31, 2026, IMST paid 31.6% in cash and finished 6.6 points ahead of MSTR.",
 "kept": {
  "since": "2026-07-31",
  "why": "closed",
  "sentence": "Closed on Jul 31, 2026. The exchange removed its listing on Aug 10, 2026. These are its last figures, as of the last day it traded. It is not in ETFIQ\u2019s rankings, scores or comparisons.",
  "lastTrade": {
   "date": "2026-07-31",
   "from": "its delisting record's last trading day"
  },
  "closed": {
   "closedAs": "unknown",
   "effective": "2026-08-10",
   "filed": "2026-08-10",
   "url": "https://www.sec.gov/Archives/edgar/data/1928561/000114336226000284/0001143362-26-000284-index.htm"
  }
 },
 "key_facts": [
  {
   "key": "cash_paid_1_year_on_its_starting_price",
   "label": "Cash paid, 1 year, on its starting price",
   "value": "31.6%",
   "source": null,
   "as_of": "2026-07-31",
   "sentence": "IMST, cash paid, 1 year, on its starting price: 31.6%, as of Jul 31, 2026."
  },
  {
   "key": "total_return_1_year",
   "label": "Total return, 1 year",
   "value": "\u221270.2%",
   "source": null,
   "as_of": "2026-07-31",
   "sentence": "IMST, total return, 1 year: \u221270.2%, as of Jul 31, 2026."
  },
  {
   "key": "against_mstr",
   "label": "Against MSTR",
   "value": "+6.6 pts",
   "source": null,
   "as_of": "2026-07-31",
   "sentence": "IMST, against MSTR: +6.6 pts, as of Jul 31, 2026."
  },
  {
   "key": "last_payout_annualized",
   "label": "Last payout, annualized",
   "value": "11.6%",
   "source": null,
   "as_of": "2026-07-31",
   "sentence": "IMST, last payout, annualized: 11.6%, as of Jul 31, 2026."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.96%",
   "source": "485BPOS XBRL, Apr 30, 2026",
   "as_of": "2026-07-31",
   "sentence": "IMST, expense ratio: 0.96% (485BPOS XBRL, Apr 30, 2026)."
  },
  {
   "key": "benchmark",
   "label": "Benchmark",
   "value": "MicroStrategy (MSTR)",
   "source": null,
   "as_of": "2026-07-31",
   "sentence": "IMST, benchmark: MicroStrategy (MSTR), as of Jul 31, 2026."
  }
 ],
 "fields": [
  {
   "key": "strategy",
   "label": "Strategy",
   "value": "synthetic covered call",
   "source": null
  },
  {
   "key": "benchmark",
   "label": "Benchmark",
   "value": "MicroStrategy (MSTR)",
   "source": null
  },
  {
   "key": "how_the_benchmark_is_set",
   "label": "How the benchmark is set",
   "value": "Its prospectus names MSTR as the company its options are written on (prospectus, Form 485BPOS, accession 0001213900-26-049948, filed 2026-04-30).",
   "source": "ETFIQ"
  },
  {
   "key": "paid",
   "label": "Paid",
   "value": "monthly",
   "source": null
  },
  {
   "key": "last_payout_annualized",
   "label": "Last payout, annualized",
   "value": "11.6%",
   "source": "ETFIQ"
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.96%",
   "source": "485BPOS XBRL, Apr 30, 2026"
  },
  {
   "key": "cash_paid_its_last_12_months_over_its_last_price",
   "label": "Cash paid, its last 12 months, over its last price",
   "value": "209.4%",
   "source": "ETFIQ"
  },
  {
   "key": "first_traded",
   "label": "First traded",
   "value": "Apr 3, 2025",
   "source": null
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Cash paid": "2.6%",
   "Price": "\u221239.6%",
   "Total return": "\u221237.6%",
   "MSTR": "\u221247.4%",
   "Ahead or behind": "+9.7 pts"
  },
  {
   "window": "6 months",
   "Cash paid": "13.1%",
   "Price": "\u221241.0%",
   "Total return": "\u221231.5%",
   "MSTR": "\u221237.7%",
   "Ahead or behind": "+6.2 pts"
  },
  {
   "window": "1 year",
   "Cash paid": "31.6%",
   "Price": "\u221284.9%",
   "Total return": "\u221270.2%",
   "MSTR": "\u221276.8%",
   "Ahead or behind": "+6.6 pts"
  },
  {
   "window": "Since launch",
   "Cash paid": "58.3%",
   "Price": "\u221284.3%",
   "Total return": "\u221261.1%",
   "MSTR": "\u221267.0%",
   "Ahead or behind": "+5.8 pts"
  }
 ],
 "questions": [
  {
   "q": "How much did IMST pay in its last year?",
   "a": "Over the year to Jul 31, 2026, IMST paid 31.6% of its starting price in cash distributions, while the price fell 84.9%."
  },
  {
   "q": "Did IMST finish ahead of MSTR?",
   "a": "Over the year to Jul 31, 2026, with every distribution reinvested, IMST returned \u221270.2% against \u221276.8% for MicroStrategy (MSTR), so a holder was ahead of it by 6.6 points."
  },
  {
   "q": "How often did IMST pay, and how much?",
   "a": "IMST paid monthly. Its last distribution annualized to 11.6% at its last price, on Jul 31, 2026."
  },
  {
   "q": "What did IMST cost?",
   "a": "The prospectus expense ratio is 0.96% a year."
  }
 ],
 "generated": "2026-10-10",
 "license": "https://etfiq.com/license/",
 "license_text": "Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.",
 "citation": "ETFIQ, IMST, income ETFs, data as of Jul 31, 2026. https://etfiq.com/funds/imst"
}