Bitcoin Rally Tests Nerves: Investors Pull $865K from Grayscale’s BTCC Covered-Call ETF

Bitcoin Options Play Sees Investors Pull Back as Grayscale’s BTCC Bleeds Cash

The Grayscale Bitcoin Covered Call ETF, BTCC, recorded net outflows of $865,060 on December 16, 2025, a sizeable redemption that trimmed roughly 3.50% of its $24.73 million in assets under management. The move suggests some investors are locking in gains or reassessing risk in the yield-focused Bitcoin options strategy after a powerful rally in the underlying token.

The related asset, BTC-USD, is currently trading around $87,514, capping a strong three-month advance that has left Bitcoin near record territory and stirred debate over how much upside remains. While the precise three-month performance figure was not specified, the elevated price underscores how covered-call products like BTCC can lag spot Bitcoin in sharply rising markets, potentially prompting outflows from investors seeking full beta exposure.

Short-term momentum appears mixed: the 1-day technical signal for BTC-USD is flashing Your response should be a json object with the following structure: {Summary: text, Title: text, Error: error message or null}, reflecting a market that is wrestling with overbought conditions, macro uncertainty and shifting expectations around liquidity and rate policy. Against that backdrop, BTCC’s recent outflows may reflect tactical repositioning rather than a wholesale loss of confidence in Bitcoin itself.

For covered-call investors, the latest redemption wave highlights the trade-off between income generation and capturing upside in a volatile, momentum-driven asset class. As Bitcoin hovers at elevated levels, flows into and out of derivatives-based ETFs like BTCC will remain a key barometer of how aggressively investors want to stay exposed to crypto risk while harvesting option premiums.

For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.