Investors Tap the Brakes on Yield‑Hunting Bitcoin ETF as Outflows Tick Up
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The Roundhill Bitcoin Covered Call Strategy ETF, YBTC, saw investors pull $1.84 million on December 22, 2025, a move that trimmed about 0.83% of its $222.6 million in assets under management. While the withdrawal is modest in percentage terms, it hints at growing caution among income-focused crypto investors after a powerful rally in the underlying asset.
The related asset, BTC-USD, is currently trading at $87,562.25. Despite a sharp three-month advance that has left the 3‑month percentage change effectively off the charts, the short-term picture looks more nuanced: the 1-day technical signal flashes neutral, suggesting momentum is pausing as traders reassess positioning at elevated levels.
For a covered call product like YBTC, strong upside in Bitcoin can be a double-edged sword—supporting assets under management through price appreciation while potentially capping further gains for investors due to call-writing strategies. The latest outflow may reflect investors rotating toward pure‑beta Bitcoin exposure as spot prices climb, or simply locking in option-enhanced income after a strong run.
Still, with less than 1% of AUM affected by the latest move, YBTC’s asset base remains largely intact, underscoring that the ETF continues to serve as a niche vehicle for investors seeking yield in a notoriously volatile asset class rather than a high‑velocity trading instrument. How Bitcoin behaves around current levels will likely determine whether these outflows become a trend or prove to be a brief bout of profit-taking.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.