Bitcoin Income Play Sees Investors Tap the Brakes as Volatility Bites
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The Roundhill Bitcoin Covered Call Strategy ETF, YBTC, recorded net outflows of $1,841,646 on December 22, 2025, a move that trimmed roughly 0.82% of its $223.26 million in assets under management. While modest in percentage terms, the withdrawal hints at growing unease among yield-seeking crypto investors as Bitcoin’s latest drawdown challenges the appeal of covered-call strategies tied to the flagship token.
The related asset, BTC-USD, is currently trading at $87,865.50, down about 23.18% over the past three months. That slide reflects a sharp reversal from earlier highs and has compressed the underlying capital base from which YBTC harvests option premiums. Despite the recent weakness, the short-term technical picture remains indecisive, with a 1-day signal of Hold, suggesting neither clear bullish momentum nor decisive breakdown.
For YBTC, which targets income by selling calls on Bitcoin exposure, sustained volatility can be a double-edged sword: it boosts option premium but also increases drawdown risk for investors who may have originally seen the product as a more conservative way to stay in crypto. The latest outflows may therefore reflect a tactical shift as traders reassess whether option income sufficiently offsets price risk in a market that has turned more defensive over the quarter.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.