Hamilton ETFs Proposes Leveraged Bitcoin Covered-Call ETF

Hamilton ETFs filed a preliminary prospectus in Canada for an actively managed Bitcoin income exchange-traded fund (ETF) that would use leverage and short-term options strategies to generate yield alongside Bitcoin exposure.

The proposed Hamilton Enhanced Bitcoin DayMAX ETF would use covered-call strategies and leverage capped at roughly 25% of net asset value. The strategy is designed to generate income by collecting premiums from short-term options contracts tied to Bitcoin (BTC) price movements.

The fund is intended to combine Bitcoin exposure with monthly income generation. The company said the ETF would seek listing approval on Cboe Canada under the ticker symbol BDAY.

Hamilton ETFs said the fund is part of its DayMAX ETF lineup, which uses 0DTE, or zero-days-to-expiration, options contracts that expire the same day they are traded.

The filing remains subject to regulatory approval before the fund can begin trading in Canada. Hamilton ETFs manages approximately $16 billion in assets, according to the company.

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Crypto ETF issuers push into active strategies

As issuers expand beyond passive spot crypto products, asset managers are increasingly positioning digital assets as a category suited to more active investment strategies.

In January, BlackRock filed for the iShares Bitcoin Premium Income ETF , an actively managed product designed to generate monthly income through covered-call strategies tied to Bitcoin exchange-traded products. The same month, Bitwise Asset Management launched an actively managed ETF tied to assets including Bitcoin, precious metals and mining stocks.

In March, 21Shares president Duncan Moir told Cointelegraph that crypto’s early-stage and rapidly evolving market structure makes it particularly suited to active management approaches, adding that the company has expanded its trading and portfolio management teams to support more sophisticated products.

The same month, T. Rowe Price updated SEC filings for a proposed actively managed crypto ETF investing directly in digital assets including Bitcoin, Ether (ETH) and Solana (SOL), while Goldman Sachs later filed for a Bitcoin income ETF designed to generate yield through call options tied to spot Bitcoin exchange-traded products.

According to a report from Goldman Sachs Asset Management, active ETFs held nearly $1.8 trillion in assets globally at the end of 2025.

Source: Morningstar, Goldman Sachs Asset Management

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