Bitcoin Options Play Sees Investor Chill as Grayscale’s BTCC Faces Heavy Outflows
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The Grayscale Bitcoin Covered Call ETF, BTCC, recorded sizeable investor withdrawals on January 05, 2026, with latest fund flows of -$1,747,576. The outflows represent roughly 7.66% of the fund’s latest reported assets under management (AUM) of $22,824,388—an unusually large single-day shift that underscores waning appetite for yield-enhanced Bitcoin exposure.
The related asset, BTC-USD, is currently trading at $92,145.13. Despite a sharp three-month decline of about 19.8%, the coin is flashing a short-term bullish signal, with the 1-day technical outlook rated as Buy. This divergence—near-term technical strength versus a pronounced medium-term drawdown—may be contributing to the repositioning in options-based Bitcoin products like BTCC, as investors reassess whether covered-call strategies are the best way to capture any potential rebound.
The scale of the latest outflow suggests that some investors prefer direct spot Bitcoin exposure or more aggressive beta to the underlying asset rather than sacrificing upside for option premium in a volatile market. As Bitcoin attempts to stabilize after its recent slide, flows into and out of structured crypto ETFs such as BTCC are likely to serve as a real-time gauge of risk appetite and confidence in the durability of any recovery rally.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.