Investors Hit Pause on Grayscale’s Covered Call Bitcoin ETF as Outflows Swell
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The Grayscale Bitcoin Covered Call ETF, BTCC, saw a sharp reversal in sentiment on January 5, 2026, with investors pulling $1,747,576 from the fund. The single-day outflow represents roughly 7.68% of its latest reported assets under management (AUM) of $22,753,215, a sizable swing that suggests option-writing income may no longer be sufficient compensation for recent crypto volatility.
Such a large redemption relative to AUM signals that a portion of yield-focused investors could be reassessing the risk–reward profile of covered call strategies tied to Bitcoin. With nearly one-twelfth of the fund’s capital exiting in a day, BTCC’s positioning and liquidity dynamics may become a closer focus for institutional traders who use the product as a more defensive way to gain Bitcoin exposure.
The related asset, BTC-USD, is currently trading at $89,785.67, down about 25.70% over the past three months. Despite that steep three-month drawdown, near-term sentiment remains cautious rather than outright bearish, with the 1-day technical signal sitting at Hold. This mixed picture — a prolonged price slump paired with neutral short-term technicals — may be prompting some investors to step away from yield-enhancing structures and wait for clearer directional cues in the underlying market.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.