Hamilton ETFs Seeks Approval for Leveraged Bitcoin Income ETF
Hamilton ETFs filed for a Bitcoin income ETF in Canada, combining leverage and covered-call strategies to generate yield. The actively managed fund would list on Cboe Canada as BDAY, reflecting growing institutional interest in active crypto investment products.
Quick Take
Hamilton ETFs proposes leveraged Bitcoin income ETF with covered calls.
Fund would use zero-days-to-expiration options for monthly income.
Filing is part of broader industry shift toward active crypto ETFs.
Pending regulatory approval in Canada; Hamilton manages $16B in assets.
Market Impact Analysis
BullishNew yield-bearing Bitcoin ETF filing indicates growing institutional product innovation, which could attract more capital into the crypto space.
Speculation Analysis
Key Takeaways
- Hamilton ETFs filed for a leveraged Bitcoin income ETF, pairing BTC exposure with covered-call yield generation.
- The fund would use zero-days-to-expiration (0DTE) options to generate monthly income, a strategy gaining traction among active ETFs.
- Pending regulatory approval in Canada, the ETF would list on Cboe under ticker BDAY, expanding crypto investment options.
- Hamilton manages $16 billion, signaling institutional-scale interest in active crypto products.
- The filing is part of a broader shift toward active crypto ETFs, with major players like BlackRock and Goldman Sachs pursuing similar strategies.
What Happened
Hamilton ETFs filed a preliminary prospectus in Canada for an actively managed Bitcoin income ETF. The Hamilton Enhanced Bitcoin DayMAX ETF would use leverage and covered-call strategies to generate yield, a departure from traditional spot products. If approved, it would list on Cboe Canada under ticker BDAY, offering investors exposure to Bitcoin with monthly income. The filing reflects a growing appetite for yield-bearing crypto instruments, capitalizing on options strategies popularized in equity markets. Hamilton's move adds to a wave of active crypto ETF launches, as asset managers seek differentiated products beyond simple spot exposure.
The Numbers
The proposed fund caps leverage at roughly 25% of net asset value, balancing risk and return. Hamilton ETFs oversees approximately $16 billion in assets, underscoring its clout in the Canadian ETF landscape. The fund would employ zero-days-to-expiration (0DTE) options, a high-octane income strategy that has seen rapid adoption in traditional markets. Listing on Cboe Canada would place BDAY alongside other innovative products. The global active ETF market has swelled to nearly $1.8 trillion, per Goldman Sachs, highlighting the demand for actively managed strategies.
Why It Happened
Investor hunger for crypto yield, combined with the maturation of ETF ecosystems, has driven product innovation. Bitcoin's volatility makes it a prime candidate for options-based income strategies, which collect premiums from price swings. Hamilton's filing aligns with a broader industry pivot: BlackRock, Bitwise, and Goldman Sachs have all launched or proposed active crypto ETFs in 2025. With spot Bitcoin ETFs now established, issuers are differentiating through active management to capture advisor and institutional flows. Canada's progressive regulatory environment makes it a testing ground for such products.
Broader Impact
The ETF's approval could accelerate the convergence of traditional finance and crypto, bringing sophisticated strategies like covered calls and 0DTE options to a wider audience. It may pressure U.S. regulators to follow suit, especially as demand for income-generating crypto products rises. The success of BDAY could spur a new category of leveraged yield ETFs, further integrating crypto into mainstream portfolios.
What to Watch Next
- Regulatory decision: Canadian securities regulators will review the prospectus; approval timeline unclear. Monitor Cboe Canada filings for updates.
- Competitor moves: Other ETF issuers may accelerate active crypto filings, especially if BDAY gains traction.
- 0DTE adoption: The use of zero-days-to-expiration options in crypto products will be a key narrative; watch for risk management debates.
This article is for informational purposes only and does not constitute financial advice.
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