Grayscale has applied for a Bitcoin Covered Call ETF

ChainCatcher news, according to The Block, Grayscale has applied to launch The Grayscale Bitcoin Trust Covered Call. According to its submitted N-1A form, this ETF will not directly invest in digital assets.

Covered Call is a covered call option strategy, which is a very common options strategy that consists of holding the underlying asset + selling call options. This strategy can provide current income while also participating in the price return of Grayscale's GBTC.