灰度發射比特幣覆蓋電話和比特幣高級收入ETF

領先的加密資產經理Grayscale今天宣布啟動Grayscale®比特幣覆蓋Call Call Call Call Call ETF（股票：BTCC）和Grayscale®BitcoinPremium收入ETF（股票：BPI）

Grayscale® Bitcoin Covered Call ETF (Ticker: BTCC) and Grayscale® Bitcoin Premium Income ETF (Ticker: BPI) (the “Funds”) were announced today by Grayscale, a premier crypto asset manager. The two Funds are Grayscale’s newest exchange-traded funds (ETFs) which offer covered call writing strategies, aiming to provide investors the ability to access the volatility characteristics of Bitcoin as a differentiated source of income.

Grayscale®比特幣覆蓋的呼叫ETF（股票：BTCC）和Grayscale®比特幣高級收入ETF（股票：BPI）（“ Funds”）（“資金”）由Premier Crypto Asset Manager Grayscale今天宣布。這兩個資金是灰度的最新交易所交易基金（ETF），它們提供了涵蓋的呼叫寫作策略，旨在使投資者能夠獲得比特幣作為差異化收入來源的波動性特徵的能力。

Grayscale® Bitcoin Covered Call ETF seeks to maximize current income while having secondary objectives to participate in the capital return of Bitcoin through the use of options on Bitcoin exchange-traded products whose investment objectives are, before fees and expenses, to track the price performance of Bitcoin. The Bitcoin exchange-traded products include, but are not limited to, Grayscale Bitcoin Trust ETF (Ticker: GBTC) and Grayscale Bitcoin Mini Trust ETF (Ticker: BTC) (the “Bitcoin ETPs”). There can be no assurance that the Fund will achieve its investment objective. The Fund attempts to achieve its investment objective by systematically writing calls very close to spot prices. This strategy leverages Bitcoin's volatility to help prioritize income, which is then distributed to fund shareholders. By selling calls near spot prices, BTCC seeks to deliver a principal focus on income generation. This makes BTCC an income-first strategy, potentially ideal for investors seeking regular cash flows and high-yielding opportunities. The option premiums collected in this type of strategy may also help cushion against market downturns, potentially leading to lower volatility during drawdowns.

Grayscale®比特幣覆蓋的呼叫ETF旨在通過在比特幣交易所交易的產品上使用期權來參與比特幣的資本回報，以最大程度地提高當前收入。比特幣交易所交易的產品包括但不限於灰度比特幣信託ETF（股票：GBTC）和灰比特幣Mini Trust ETF（股票：BTC）（“比特幣ETP”）。不能保證該基金將實現其投資目標。該基金試圖通過系統地編寫非常接近現貨的電話來實現其投資目標。該戰略利用比特幣的波動來幫助優先級收入，然後將其分配給股東。通過銷售接近現貨價格的電話，BTCC試圖將主要關注收入集中在收入中。這使BTCC成為收入第一戰略，對於尋求常規現金流和高收益機會的投資者來說，這是理想的選擇。在這種類型的策略中收集的期權保費也可能有助於緩衝市場的低迷，這可能導致下降期間的波動性降低。

In contrast, Grayscale® Bitcoin Premium Income ETF seeks to maximize current income while maintaining prospects for capital appreciation through the use of options on Bitcoin exchange-traded products whose investment objectives are, before fees and expenses, to track the price performance of Bitcoin. The Bitcoin exchange-traded products include, but are not limited to, Grayscale Bitcoin Trust ETF (Ticker: GBTC) and Grayscale Bitcoin Mini Trust ETF (Ticker: BTC) (the “Bitcoin ETPs”). There can be no assurance that the Fund will achieve its investment objective. The Fund seeks to achieve this by systematically writing calls targeting strike prices that are well out-of-the-money. By focusing on this type of call writing strategy, BPI allows investors to participate in much of Bitcoin's upside potential while possibly benefiting from some dividend income. This blended approach provides investors with an opportunity to participate in the capital appreciation potential of Bitcoin with the benefits of income. Both Funds are actively managed, fully options based, and will aim to distribute income monthly.

相比之下，Grayscale®比特幣溢價收入ETF試圖通過在比特幣交易所交易的產品上使用期權來維持資本收入的前景，以維持其投資目標（在費用和費用之前）跟踪比特幣的價格績效。比特幣交易所交易的產品包括但不限於灰度比特幣信託ETF（股票：GBTC）和灰比特幣Mini Trust ETF（股票：BTC）（“比特幣ETP”）。不能保證該基金將實現其投資目標。該基金試圖通過系統地編寫針對廉價罷工價格的電話來實現這一目標。通過專注於這種呼叫寫作策略，BPI允許投資者參與比特幣的上漲潛力，同時可能會從某些股息收入中受益。這種混合方法使投資者有機會參與比特幣的資本增值潛力，並帶來收入的好處。這兩種資金都是積極管理的，完全基於選擇權的，並將旨在每月分配收入。

“Grayscale® Bitcoin Covered Call ETF may complement an investors existing Bitcoin exposure by adding income, while Grayscale® Bitcoin Premium Income ETF offers an alternative to Bitcoin ownership, aiming to balance upside participation and income generation for investors,” said David LaValle, Global Head of ETFs at Grayscale. "We understand that every investor has unique needs, and we're excited to offer these new products that not only may capture and deliver income but also offer differentiated outcomes and behavioral characteristics tailored to their specific goals."

“Grayscale®比特幣覆蓋的呼叫ETF可能會通過增加收入來補充投資者現有的比特幣風險，而Grayscale®比特幣保費收入ETF為比特幣所有權提供了替代品，旨在平衡投資者的上漲和收入的創造，” Graysfs全球負責人David Lavalle表示。 “我們了解每個投資者都有獨特的需求，我們很高興提供這些新產品，這些產品不僅可以捕獲和提供收入，還提供了針對其特定目標量身定制的差異化結果和行為特徵。”

For more information about BTCC and BPI, please visit: https://etfs.grayscale.com/btcc or https://etfs.grayscale.com/bpi

有關BTCC和BPI的更多信息，請訪問：https：//etfs.grayscale.com/btcc或https://etfs.grayscale.com/bpi

About Grayscale

關於灰度

Grayscale enables investors to access the digital economy through a family of future-forward investment products. Founded in 2013, Grayscale has a decade-long track record and deep expertise as an asset management firm focused on crypto investing. Investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure. For more information, please follow @Grayscale or visit grayscale.com.

灰度使投資者能夠通過一系列未來的投資產品進入數字經濟。 Grayscale成立於2013年，作為一家專注於加密投資的資產管理公司擁有十年的往績和深厚的專業知識。投資者，顧問和分配者轉向灰度，以獲得單一資產，多元化和主題曝光率。有關更多信息，請關注@grayscale或訪問grayscale.com。

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Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Funds, please call (866)-775-0313 or visit our website at etfs.grayscale.com/bpi and etfs.grayscale.com/btcc. Read the prospectuses or summary prospectuses carefully before investing.

投資者應在投資之前仔細考慮投資目標，風險，費用和費用。有關此招股說明書或摘要的招股說明書和有關資金的其他信息，請致電（866）-775-0313或訪問我們的網站etfs.grayscale.com/bpi和etfs.grayscale.com/btcc。投資前請仔細閱讀招股說明書或摘要招股說明書。

Grayscale Bitcoin Covered Calls ETF and Grayscale Bitcoin Premium Income ETF (collectively the “Funds”) will not invest in digital assets directly. The Funds also will not invest in initial coin offerings. The Funds will, however, have indirect exposure to digital assets by virtue of its investments in derivatives on exchange-traded vehicles that hold digital assets as investments. Because the Funds will not invest directly in any digital assets, they may not track price movements of any digital assets.

灰度比特幣涵蓋的電話ETF和灰比特幣保費收入ETF（統稱為“資金”）不會直接投資數字資產。這些資金也不會投資於初始硬幣產品。但是，由於其對持有數字資產作為投資的交易所交易的汽車的衍生工具的投資，這些資金將間接接觸數字資產。由於資金不會直接投資於任何數字資產，因此它們可能不會跟踪任何數字資產的價格變動。

Investing involves risk and possible loss of principal. There is no guarantee the investment strategies will be successful. The Funds are considered to be non-diversified. The Funds are actively managed and their performance reflects the investment decisions that the Adviser makes for the Funds.

投資涉及風險和可能的本金損失。不能保証投資策略將取得成功。這些資金被認為是不變的。這些資金是積極管理的，其績效反映了顧問為資金做出的投資決策。

Derivative Instruments. The Funds will invest in options, a

衍生工具。資金將投資於期權，一個