Roundhill Bitcoin Covered Call Strategy ETF
Key Statistics
Historical Performance
Total return including reinvested distributions, from adjusted closing prices.
Price History
Price history is being compiled for this fund.
Top Holdings
Top 5 holdings as of Mar 31, 2026 · source: SEC N-PORT. Full holdings & prospectus →
About YBTC
The Fund seeks to achieve itsinvestment objectives through the use of a synthetic covered call strategy that provides current income on a weekly basis, while alsoproviding exposure to the price return of one or more exchange-traded funds (“ETFs”) that hold bitcoin and whose shares tradeon a U.S.-regulated securities exchange (each, a “Bitcoin ETF,” and collectively, the “Bitcoin ETFs”). In effectuatingits investment strategy, the Fund will purchase and sell a combination of call and put option contracts that utilize a Bitcoin ETF oran index of Bitcoin ETFs (the “Bitcoin ETF Index”) as the reference asset (“Bitcoin ETF Options”). The Fund willinvest at least 80% of its net assets (plus any borrowings for investment purposes) in Bitcoin ETF Options. For purposes of compliancewith this investment policy, derivative contracts will be valued at their notional value. The Fund’s sale of call Bitcoin ETF Options(“Bitcoin ETF Call Options”) to generate income will potentially limit the degree to which the Fund will participate in anygains experienced by the Bitcoin ETFs. The Fund does not invest directly in bitcoin. TheBitcoin ETF Options the Fund utilizes in implementing its investment strategy will be traditional exchange-traded options contracts and/orFLexible EXchange® options(“FLEX Options”). The Fund will only invest in options contracts that are listed for trading on regulated U.S. exchanges.Traditional exchange-traded options have standardized terms, such as the type (call or put), the reference asset, the strike price andexpiration date. Exchange-listed options contracts are guaranteed for settlement by the Options Clearing Corporation (“OCC”).FLEX Options are a type of exchange-listed options contract with uniquely customizable terms that allow investors to customize key termslike type, strike price and expiration date that are standardized in a typical options contract. FLEX Options are also guaranteed forsettlement by the OCC. In general, an option is a contractthat gives the purchaser (holder) of the option, in return for a premium, the right to buy from (call) or sell to (put) the seller (writer)of the option the security underlying (in this case, a Bitcoin ETF or an index of Bitcoin ETFs) the option at a specified exercise price.For physically settled options, the writer of an option has the obligation upon exercise of the option to deliver the underlying securityupon payment of the exercise price (call) or to pay the exercise price upon delivery of the underlying security (put). For cash settledoptions, the writer of an option has the obligation upon exercise of the option to deliver cash equivalent to the difference between thestrike price and the price of the underlying security. In a traditional covered callstrategy, an investor (such as the Fund) sells a call option on a security it already owns. However, although the Fund may hold some sharesof one or more Bitcoin ETFs, it will primarily derive its exposure to Bitcoin ETFs through Bitcoin ETF Options. It is this distinctionthat causes the Fund’s strategy to be properly termed as a “synthetic covered call strategy” as opposed to a traditionalcovered call strategy, because the Fund primarily has synthetic exposure to a Bitcoin ETF. The Fund’s synthetic exposure to BitcoinETFs is achieved through the combination of purchasing call options and selling put options generally at the same strike price which syntheticallycreates the upside and downside participation in the price returns of a Bitcoin ETF or an index of Bitcoin ETFs. The Fund will primarilygain exposure to increases in value experienced by the Bitcoin ETFs through the purchase of Bitcoin ETF Call Options. As a buyer of theseoptions, the Fund pays a premium to the seller of the options. The Fund will primarily gain exposure to decreases in value experiencedby the Bitcoin ETFs through the sale of put Bitcoin ETF Options (“Bitcoin ETF Put Options”). As the seller of these options,the Fund receives a premium from the buyer of the options. In combination, the purchased Bitcoin ETF Call Options and sold Bitcoin ETFPut Options generally provide exposure to price returns of the Bitcoin ETF(s) both on the upside and downside. As the primary means by whichthe Fund intends to generate income, the Fund will sell Bitcoin ETF Call Options at a strike price that is out-of-the-money. However,it is important to note that the sale of these call options to generate income will limit the Fund’s ability to participate in increasesin value of the Bitcoin ETFs beyond a certain point. If the value of the Bitcoin ETFs increases, the above-referenced synthetic long exposurewould allow the Fund to experience similar percentage gains. However, if the value of the Bitcoin ETFs appreciates in value beyond thestrike price of one or more of the Bitcoin ETF Call Options that the Fund has sold to generate income, the Fund will lose money on thoseshort call positions, and the losses will, in turn, limit the upside return of the Fund’s synthetic long exposure. As a result,the Fund’s overall strategy (i.e., the combination of the synthetic long exposure to the Bitcoin ETFs and the sold BitcoinETF Call Options) will limit the Fund’s participation in gains of the Bitcoin ETFs beyond a certain point. This strategy effectivelyconverts a portion of the potential upside price return growth of the Bitcoin ETFs into current income. It is expected that the BitcoinETF Call Options the Fund will sell to generate options premiums will generally have expirations of approximately one week or less andwill be held to or close to expiration. The Fund intends to make weekly distribution payments to shareholders. In addition to the options contracts,the Fund will also invest in short-term U.S. Treasury securities and money market funds. The Fund may also directly hold shares of oneor more Bitcoin ETFs. Due to certain tests that must be met in order to qualify as a registered investment company (“RIC”),the Fund may also utilize reverse repurchase agreements to help maintain the desired level of exposure to Bitcoin ETF Options. The Fund is classified as “non-diversified”under the Investment Company Act of 1940 (the “1940 Act”). Additional InformationAbout the Bitcoin ETFs The Bitcoin ETFs are structuredas Delaware statutory trusts that issue shares representing fractional undivided beneficial interests in its net assets. Each BitcoinETF’s assets consist primarily of bitcoin. The Bitcoin ETFs seek to generally reflect the performance of the price of bitcoin. TheBitcoin ETFs are not investment companies registered under the 1940 Act, and the sponsors of the Bitcoin ETFs are not registered withthe SEC as an investment adviser and are not subject to regulation by the SEC as such in connection with its activities with respect tothe Bitcoin ETFs. The Bitcoin ETFs are not a commodity pool for purposes of the Commodity Exchange Act of 1936, as amended (the “CommodityExchange Act” or “CEA”), and the sponsors are not subject to regulation by the CFTC as a commodity pool operator ora commodity trading advisor with respect to the Bitcoin ETFs. Additional Informationabout the Bitcoin ETF Index The Cboe Bitcoin U.S. ETF Index(CBTX) is a modified market capitalization-weighted index that is designed to track the performance of a basket of Bitcoin ETFs listedon U.S. exchanges. Cboe Bitcoin U.S. ETF Index Options are cash-settled, European style index options based on the Cboe Bitcoin U.S. ETFIndex. Similarly, the Cboe Mini Bitcoin U.S. ETF Index (MBTX) Options are cash-settled, European style index options based on the CboeMini Bitcoin U.S. ETF Index that are designed to be 1/10th the size of the standard CBTX options contract. Additional Informationon Bitcoin Bitcoin is a digital asset thatis created and transmitted through the operations of the online, peer-to-peer Bitcoin network, a decentralized network of computers thatoperates on cryptographic protocols. The ownership of bitcoin is determined by participants in the Bitcoin network. The Bitcoin networkconnects computers that run publicly accessible, or “open source,” software that follows the rules and procedures governingthe Bitcoin network. This is commonly referred to as the Bitcoin Protocol. Bitcoin, the asset, plays a key role in the operation of theBitcoin network, as the computers (or “miners”) that process transactions on the network and maintain the network’ssecurity are compensated through the issuance of new bitcoin and through transaction fees paid by users in bitcoin. No single entity owns or operatesthe Bitcoin network. Bitcoin is not issued by any government, by banks or similar organizations. The infrastructure of the Bitcoin networkis collectively maintained by a decentralized user base. The Bitcoin network is accessed through software, and software governs the creation,movement, and ownership of “bitcoin,” the unit of account on the Bitcoin network ledger. The value of bitcoin is determined,in part, by the supply of, and demand for, bitcoin in the global markets for trading bitcoin, market expectations for the adoption ofbitcoin as a decentralized store of value, the number of merchants and/or institutions that accept bitcoin as a form of payment and thevolume of private end-user-to-end-user transactions. Bitcoin transaction and ownershiprecords are reflected on the “Bitcoin blockchain,” which is a digital public record or ledger. Copies of this ledger are storedin a decentralized manner on the computers of each Bitcoin network node (a node is any user who maintains on their computer a full copyof all the bitcoin transaction records, the blockchain, as well as related software). Transaction data is permanently recorded in filescalled “blocks,” which reflect transactions that have been recorded and authenticated by Bitcoin network participants. TheBitcoin network software source code includes protocols that govern the creation of new bitcoin and the cryptographic system that securesand verifies bitcoin transactions.
YBTC News
- (YBTC) Price Dynamics and Execution-Aware Positioning
- (YBTC) as a Liquidity Pulse for Institutional Tactics
- (YBTC) as a Liquidity Pulse for Institutional Tactics
- (YBTC) Risk Channels and Responsive Allocation
- (YBTC) Movement as an Input in Quant Signal Sets
- Roundhill Bitcoin Covered Call Strategy ETF (YBTC) Declares Weekly Distribution
Data for YBTC is aggregated from third-party providers (Tiingo, Nasdaq, Finnhub) and SEC filings, may be delayed at least 20 minutes, and may be incomplete or contain errors. Nothing here is investment advice. Verify with the official prospectus before investing.