Bitwise has introduced three new ETFs that provide yield-seeking investors with exposure to major Bitcoin finance companies using a covered call strategy designed to leverage stock volatility while maintaining the upside of Bitcoin Link.
Funds include:
- $ imsttracking strategy (formerly MicroStrategy, Ticker:MSTR), currently owns 528,185 BTC.
- $ imrafocusing Mala Holdings (Mara) Top Tier Bitcoin Miner 47,600 BTC Ministry of Finance.
- $ icoiprovides exposure Coinbase (Coin) 9,480 BTC It also serves as an important on-ramp for the adoption of in-facility and retail Bitcoin.
Each ETF uses a proactively managed option overlay, writing money out of the money call to underlying fairness while maintaining long positions. This approach is designed to provide monthly revenue distributions, particularly attractive in today’s highly volatile environment, while maintaining meaningful reverse exposure to Bitcoin Link companies.
While none of them holds Bitcoin directly, all three underlying stocks are deeply intertwined with Bitcoin’s performance and trajectory. Strategy and Marathon are one of BTC’s most prominent corporate owners, but Coinbase continues to function as a critical infrastructure for the broader ecosystem.
New tools for capital allocation tailored to Bitcoin
For corporate finance and institutional allocators who view Bitcoin as a long-term strategic asset, these new products represent a compelling way to gain indirect exposure while generating yield, especially on balance sheets that cannot directly hold BTC.
The rise of such equity-based strategies is part of a wider change. More public companies are actively integrating Bitcoin into their financial models, either directly held or through services and operations related to Bitcoin mining, custody, or exchange infrastructure.
What Bitwise offers is how to monetize volatility, not just exposure. That’s what Bitcoin native companies experience most people. These stocks are increasingly being used as BTC proxy by sophisticated investors, whether it is MSTR stocks that respond to price fluctuations in Bitcoin, tracking the difficulty and rewards of mining Mara stocks, or Coinbase stocks that respond to changes in trading volume and regulation sentiment.
Institutional interest in companies with Bitcoin ETFs, mining stocks and Bitcoin’s Treasury has intensified in recent months, with tools like IMST, IMRA and ICOI offering a new angle to their demand. For businesses that already have the Treasury route for Bitcoin, or taking into account this, this evolution of capital market infrastructure is noteworthy.
This shows the signal for Bitcoin financial strategy
The launch of these ETFs reflects the way Bitcoin is no longer just a spot asset. It is currently incorporated into public equity strategies, yields and portfolio construction.
The covered call structure is not appropriate for all investors and the Treasury, but the signal is clear. The market matures around the idea that not only hold Bitcoin, it can be actively managed, structured and monetized in new ways.
These new ETFs do not replace direct holdings of the company’s balance sheet. But they may complement them – or provide the first step for companies exploring ways to place around Bitcoin while meeting traditional risk, yield and reporting duties.
Disclaimer: This content was written on behalf of Bitcoin for businesses. This article is for informational purposes only and should not be construed as an invitation or solicitation to acquire, purchase, or subscribe to any securities.
