Hamilton ETFs submitted a preliminary prospectus to Canadian regulators for a new actively managed Bitcoin income ETF designed to generate yield through a leveraged options strategy. The proposed fund, named Hamilton Enhanced Bitcoin DayMAX ETF, plans to employ covered-call strategies with leverage capped at around 25% of its net asset value.
This ETF aims to blend Bitcoin exposure with consistent monthly income by writing short-term, zero-days-to-expiration (0DTE) options, which expire the same day they are traded. Premiums collected from these contracts linked to Bitcoin price movements would form the primary source of income for investors.
The fund intends to list on Cboe Canada under the ticker symbol BDAY once the offering receives regulatory approval. Hamilton ETFs, which currently manages approximately $16 billion in assets, positions this ETF within its existing DayMAX series that focuses on options strategies exploiting daily expiration dates to optimize income generation.
The move reflects a broader trend of crypto asset managers shifting from purely passive Bitcoin products toward more active, income-focused investment vehicles. Earlier this year, BlackRock sought approval for its iShares Bitcoin Premium Income ETF, another actively managed fund using covered calls to deliver monthly yield. Similarly, Bitwise launched an active ETF merging crypto with precious metals and mining stocks.
Industry voices highlight the early-stage and volatile nature of crypto markets as conducive to active management. For example, 21Shares has expanded trading and portfolio teams to support these strategies, while firms like T. Rowe Price and Goldman Sachs have filed for actively managed crypto ETFs targeting a mix of Bitcoin, Ether, and other digital assets.
Active ETFs, including those in crypto, are gaining traction, with reports estimating nearly $1.8 trillion in assets globally in this category as of late 2025, according to Morningstar and Goldman Sachs Asset Management data. Hamilton’s new ETF proposal fits into this growing appetite for products that combine exposure to digital assets with enhanced income potential through leveraged options.