Bitwise Bitcoin ETF (BITB) Covered Calls

The Bitwise Bitcoin ETF offers a secure, low-cost way to gain direct exposure to Bitcoin within traditional brokerage accounts. Managed by digital asset specialist Bitwise, the fund holds physical Bitcoin in institutional-grade cold storage. It is distinguished by its specialist management team, competitive fee structure, and a unique commitment to supporting the Bitcoin ecosystem through the donation of a portion of its profits to open-source developers.

You can sell covered calls on Bitwise Bitcoin ETF to lower risk and earn monthly income. Born To Sell's covered call screener gives you customized search capabilities across all possible covered calls but here are a couple of examples for BITB (prices last updated Fri 4:16 PM ET):

Bitwise Bitcoin ETF (BITB) Stock Quote
Last Change Bid Ask Volume P/E Market Cap
38.04 +3.48 38.01 38.05 4.3M - 0.7
Covered Calls For Bitwise Bitcoin ETF (BITB)
Expiration Strike Call Bid Net Debit Return
If Flat		 Annualized
Return If Flat
Feb 20 38 1.60 36.45 4.3% 105%
Mar 20 40 1.90 36.15 5.3% 45.0%
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Extended Business Description

Bitwise Bitcoin ETF is a spot-based exchange-traded fund that tracks the CME CF Bitcoin Reference Rate - New York Variant. Sponsored by Bitwise Asset Management, the fund leverages the firm’s deep expertise in digital asset research and security to provide a transparent, regulated vehicle for Bitcoin exposure. BITB is designed for both institutional and individual investors seeking a professional-grade entry point into the digital asset market.

Core Business and Products

  1. Physically-Backed Exposure: The trust holds actual Bitcoin, ensuring that share performance correlates directly with the spot price. This removes the "roll costs" and technical complexities associated with futures-based crypto products.
  2. Institutional Security: Assets are held by Coinbase Custody Trust Company, LLC in segregated, offline cold storage. This setup provides a multi-layer security protocol designed to protect the fund’s holdings from hacking and unauthorized access.
  3. Ecosystem Support: Bitwise donates 10% of the profits from BITB to organizations that support Bitcoin open-source development, aligning the fund’s success with the long-term health and security of the underlying Bitcoin network.

Competitive Landscape

The market for spot Bitcoin ETFs is highly competitive, focused primarily on liquidity and expense ratios. BITB competes directly with the iShares Bitcoin Trust and the Fidelity Wise Origin Bitcoin Fund. It is often preferred by fee-conscious investors alongside the Franklin Bitcoin ETF and the Grayscale Bitcoin Mini Trust. Other relevant peers include the ARK 21Shares Bitcoin ETF and the VanEck Bitcoin Trust, as well as digital asset proxies like Strategy Inc (MicroStrategy).

Strategic Outlook and Innovation

In 2026, Bitwise is focused on the "institutionalization" phase of Bitcoin, targeting wider adoption through registered investment advisors and wealth management platforms. A key strategic priority is enhancing on-chain transparency, including the implementation of real-time proof-of-reserve reporting. Innovation efforts are also directed at the burgeoning options market for spot ETFs, which would allow BITB holders to utilize sophisticated hedging and income-generation strategies. As Bitcoin continues to gain status as a global "digital gold," the fund aims to maintain its position as the premier specialist-led vehicle for crypto-native and traditional investors alike. By combining technical depth with a commitment to low fees, BITB seeks to be a foundational component of modern, diversified investment portfolios.