Options on Ether, Flows on Fire: Grayscale’s Covered Call ETF Draws Big Bet Despite Price Slump
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The Grayscale Ethereum Covered Call ETF, ETCO, attracted a fresh wave of capital on January 06, 2026, pulling in $1,763,595 in new money. The single-day inflow amounts to roughly 20.7% of its latest reported assets under management, which stand at $8,502,648 — a notable vote of confidence in a still-nascent options-based crypto strategy.
The influx suggests investors are leaning into covered-call income strategies on Ethereum at a time when directional conviction is muted. Selling calls against spot Ether exposure can potentially soften volatility and generate yield, a combination that appears appealing as traders reassess risk in digital assets.
The related asset, ETH-USD, is currently trading around $3,088.48, having shed about 28.2% over the past three months. Despite that drawdown, near-term signals are indecisive, with a 1-day technical stance flashing Hold. That mix of medium-term weakness and short-term hesitation helps explain why some investors are choosing an options overlay via ETCO instead of taking outright leveraged bets on Ether’s rebound.
Whether this sizeable inflow marks the start of a broader rotation into income-oriented crypto products or a tactical move to monetize volatility will hinge on Ethereum’s next leg. For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.