Investors Tap the Brakes on Bitcoin Options Play as Outflows Hit Roundhill Fund
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The Roundhill Bitcoin Covered Call Strategy ETF, YBTC, saw investors pull $1.84 million on December 22, 2025, marking a notable bout of profit-taking or risk reduction in a choppy crypto environment. The redemption represents roughly 0.82% of the fund’s $223.26 million in assets under management (AUM), a meaningful one-day adjustment for a niche income-focused Bitcoin strategy.
While the flow is not large enough to threaten liquidity or the fund’s structure, it suggests some holders are reassessing exposure to covered-call products tied to a volatile underlying asset. With Bitcoin’s recent swings compressing and then abruptly expanding, the appeal of option-income strategies like YBTC can ebb and flow as traders weigh premium income against potential upside left on the table.
The related asset, BTC-USD, is currently trading at $88,579.64, down about 21.06% over the past three months, underscoring the sharp reversal from prior record highs. Despite the drawdown, near‑term signals remain indecisive, with the 1‑day technical stance flashing Hold, reflecting a stalemate between dip buyers and momentum sellers.
With Bitcoin consolidating after a steep correction and option premiums adjusting accordingly, short-term flows in YBTC may continue to oscillate as investors toggle between seeking income and preserving participation in any renewed crypto rally. For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.