ETCOGrayscale Ethereum Covered Call ETF
Seeks to provide current income through exposure to Ethereum ETPs.
By Grayscale · Launched 2025
0.65%
#3,427 of 5,854 · average
$4M
#5,281 of 5,854 · small
—
11 months
#4,605 of 5,854 · young
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 3 holdings = 21.6% of fund✓ well diversified
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsWorst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks to provide current income through exposure to Ethereum ETPs.
- Strategy
- Actively manages a synthetic covered call strategy by investing in options contracts referencing Ethereum ETPs to generate current income. The Fund does not invest directly in digital assets but gains exposure through derivatives linked to Ethereum ETPs.
- Inception date
- September 3, 2025
- Fund family
- Grayscale
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
The big yield isn't extra money
The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.
Sources: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-08-03