Grayscale Bitcoin Premium Income ETF
BPI
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- Neil Kumar
- Full Time Employees
- 415
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 290 Harbor Drive Stamford CA United States of America 06902
- IPO Date
- Apr 2, 2025
- CIK
- 0001976672
- Website
- bridgebio.com
- Similar Companies
- Business
- Grayscale Bitcoin Premium Income ETF (BPI) is an actively managed exchange-traded fund that seeks current income while maintaining prospects for capital appreciation through indirect exposure to Bitcoin returns via a synthetic covered call strategy on Bitcoin exchange-traded products (ETPs). The fund invests primarily in exchange-traded options contracts, including call and put options, referencing Bitcoin ETPs such as Grayscale Bitcoin Trust ETF (GBTC) and Grayscale Bitcoin Mini Trust ETF (BTC); under normal circumstances, it allocates at least 80% of net assets to such options, supplemented by holdings like U.S. Treasury Bills for collateral. Launched on April 2, 2025, by Grayscale Funds Trust and managed by Grayscale Advisors, LLC—a digital asset investment firm founded in 2013 and headquartered in Stamford, Connecticut—the ETF trades on NYSE Arca with a net expense ratio of 0.66% and targets biweekly distributions, currently yielding approximately 18.34% distribution rate and 3.43% 30-day SEC yield. BPI serves institutional and retail investors seeking cryptocurrency exposure without direct custody, blending income generation from writing far out-of-the-money call options with potential upside participation in Bitcoin price movements; it operates globally through U.S.-listed securities, focusing on the cryptocurrency asset class. In recent developments, Grayscale altered BPI's distribution schedule effective August 1, 2025, to biweekly payouts on the 15th and 30th of each month to enhance yield predictability for investors; this followed the fund's debut alongside the Grayscale Bitcoin Covered Call ETF (BTCC) in April 2025 as part of Grayscale's expansion into income-oriented Bitcoin strategies. The ETF, part of Grayscale's broader family of seven U.S.-listed cryptocurrency ETFs with over $22 billion in assets under management, continues regular biweekly distributions, with the most recent ex-date on December 12, 2025, at $0.2353 per share including 10% return of capital.