Can You Have Bitcoin Growth and Income?
You want the explosive growth potential of Bitcoin, but you also want some income. Can someone create a product that does both?
Hamilton ETFs’ newest Bitcoin income offering: the Hamilton Enhanced Bitcoin DayMAX ETF, ticker BDAY. The fund tries to give investors the explosive upside potential of Bitcoin while also generating income. It gets its Bitcoin exposure by investing in the iShares Bitcoin Trust ETF, ticker IBIT.
This gives the fund approximately 100% exposure to Bitcoin without writing covered calls against the Bitcoin position. There are already several Bitcoin ETFs generating income by writing calls directly against their Bitcoin exposure. The problem is that those calls can cap part of the upside when Bitcoin makes one of its explosive moves higher. BDAY aims to do something different.
Instead of monetizing the Bitcoin holdings and giving up some of that upside, the fund uses approximately 25% leverage and invests the borrowed money in the Invesco Nasdaq 100 ETF, ticker QQQM. It then writes zero days to expiration or 0DTE call options against the QQQM position. Those options expire at the end of the trading day, allowing the fund to potentially collect option premiums without writing calls against its Bitcoin holdings.
The idea is fairly simple: Bitcoin provides the growth potential and the leveraged QQQM position and daily call options generate the income. Which BDAY then distributes that income to shareholders twice a month.
Investors should understand that the overall fund will not perform exactly like Bitcoin. While the Bitcoin portion remains uncapped, the fund will not track Bitcoin perfectly. Its returns will also be affected by the performance of QQQM, the 0DTE option strategy, borrowing costs and the 0.85% management fee.
Will this innovative concept work? Who knows, especially since the fund only launched on June 24, 2026, and has almost no performance history. However, it is a pretty interesting spin on a Bitcoin income ETF and the first product I have seen that attempts to generate regular income without directly capping the historically explosive upside potential of Bitcoin itself.
