Bitcoin Yield Play Faces Jitters as Investors Pull Cash From Roundhill’s Options ETF
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The Roundhill Bitcoin Covered Call Strategy ETF, YBTC, saw investors withdraw $1,841,646 on December 22, 2025, a notable outflow for the income-focused crypto vehicle. The latest move affected roughly 0.80% of the fund’s $230.0 million in assets under management (AUM), suggesting a cautious turn among yield-seeking bitcoin holders after a strong year for the underlying token.
The related asset, BTC-USD, is currently trading at $87,460.76. Over the past three months, bitcoin has experienced pronounced volatility, with prices whipsawing around recent highs as traders weigh macro uncertainty, regulatory headlines, and the evolving ETF landscape. On the short-term chart, the 1-day technical setup for bitcoin is flashing a mixed signal, reflecting a tug-of-war between profit-taking and dip-buying activity.
For YBTC, which generates income by writing covered calls on bitcoin, the recent outflow may indicate that some investors are rotating back into pure price exposure or locking in gains after the token’s latest surge. While 0.8% of AUM is not a destabilizing move, it underscores how quickly sentiment can shift in option-enhanced crypto products when volatility expectations change. If bitcoin’s rally broadens or cools sharply, flows into and out of covered-call strategies like YBTC could become an important barometer of risk appetite among more sophisticated retail and advisory clients.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.