ICOI
Bitwise COIN Option Income Strategy ETF
Through rigorous daily active management, ICOI employs an options strategy that aims to generate monthly income for investors while providing capped upside exposure to COIN.
As of 04/24/2025
As of 04/24/2025
*The Distribution Rate is the annual yield an investor would receive if the most recent fund distribution remained the same going forward. The rate represents a single distribution from the fund and does not represent the total return of the fund. The Distribution Rate is calculated by annualizing the most recent distribution and dividing by the most recent fund NAV. The distribution may include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease a fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment.
**The 30-day SEC yield reflects the dividends and interest earned during the previous month, after the deduction of the fund’s expenses. This is also referred to as the "standardized yield."
Future distributions may differ significantly and are not guaranteed.
Performance
Data as of 04/24/2025
- NAV$54.28
- NAV Change1.0% / $0.53
- Market Price$54.3
- Market Price Change1.0% / $0.53
- MEDIAN BID-ASK SPREAD (30-DAY)*0.5%
*30-Day Median Bid-Ask Spread: The spread is calculated from (i) sampling the ETF's NBBO as of the end of each 10-second interval during each trading day of the last 30 calendar days; (ii) dividing the difference between each such bid and offer by the midpoint of the NBBO; and (iii) identifying the median of those values.
Performance History
Data as of 04/27/2025
| Ticker | 1-Month | 3-Month | 6-Month | YTD | 1-Year | 3-Year | 5-Year | Since Inception (Annualized) | Since Inception (Cumulative) |
| NAV | — | — | — | — | — | — | — | — | — |
| Market Price | — | — | — | — | — | — | — | — | — |
Performance data quoted represents past performance and is no guarantee of future results. Short-term performance, in particular, is not a good indication of the fund's future performance, and an investment should not be made based solely on returns. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the original cost. Returns for periods of one year or less are not annualized. For the most recent month-end performance, please call 1-415-707-3663.
Performance of one year or less is not annualized. NAV performance is calculated based on the official closing values as of 4:00 p.m. ET. Market Price performance reflects the midpoint of the bid-ask spread as of 4:00 p.m. ET, and does not represent the returns an investor would receive if shares were traded at other times. Fund returns are calculated net of expenses. Shares are subject to a 0.98% Net Expense Ratio that includes the management fee, custody charges for holding the fund's assets charged by the custodian, and customary fees and expenses of the fund administrator and auditor.
Trailing 12 Month Distributions
Data as of 04/27/2025
No Distributions
The distribution may include a combination of ordinary dividends, capital gain, and return of investor capital, which may decrease a fund’s NAV and trading price over time. As a result, an investor may suffer significant losses to their investment.
Distributions
Data as of 04/27/2025
No Distributions
Distributions Calendar
| Month | Declared Date | Ex-Date | Record Date | Payable Date |
| May | 5/22/2025 | 5/23/2025 | 5/23/2025 | 5/28/2025 |
| June | 6/26/2025 | 6/27/2025 | 6/27/2025 | 7/1/2025 |
| July | 7/24/2025 | 7/25/2025 | 7/25/2025 | 7/29/2025 |
| August | 8/21/2025 | 8/22/2025 | 8/22/2025 | 8/26/2025 |
| September | 9/25/2025 | 9/26/2025 | 9/26/2025 | 9/30/2025 |
| October | 10/23/2025 | 10/24/2025 | 10/24/2025 | 10/28/2025 |
| November | 11/26/2025 | 11/28/2025 | 11/28/2025 | 12/2/2025 |
| December | 12/24/2025 | 12/26/2025 | 12/26/2025 | 12/30/2025 |
Distribution dates are subject to change.
Portfolio Management: Experts at the Intersection of Crypto and Derivatives
Led by Jeff Park, the ICOI portfolio team couples deep knowledge of crypto markets with decades of collective experience in derivatives and portfolio management.
Jeffrey Park, CFA
Portfolio Manager, Head of Alpha Strategies
Prior: Partner at Corbin Capital Partners, Analyst at Harvard Management Co., Exotic Derivatives Trader at Morgan Stanley
Jennifer Thornton
Head of Index Fund Portfolio Management
Prior: Index Fund Portfolio Manager at BlackRock, Transition Portfolio Manager at its predecessor Barclays Global Investors (BGI)
Daniela Padilla
Portfolio Manager
Prior: Senior Associate at JP Morgan’s Prime Finance Middle Office, Associate at BBVA, Analyst at Barclay Investments LLC
Gayatri Choudhury
Quantitative Investment Analyst
Prior: Senior Quantitative Research Analyst at Bitwise, Product Analyst at Global XWhy invest in ICOI?
Income Generation Potential
Designed to create monthly distributions for investors through actively managed options strategy.
Specialist Active Management
Led by seasoned crypto and derivatives experts analyzing daily developments in news, sentiment, capital flows, options markets, and more.
Exposure to Crypto Pioneer
Aims to participate in equity performance of Coinbase, one of the world's largest crypto exchanges and custodians.
About the ICOI Fund
Holdings
Data as of 04/24/2025
| Security Name | Security Type | CUSIP | Shares | Market Value | Net Assets | Weight (%) |
| TREASURY BILL 0 7/10/2025 | Treasury | 912797LW5 | 450,000 | $446,185.75 | $543,031.57 | — |
| 2COIN US 05/16/25 C190 | Option | — | -28 | -$73,211.88 | $543,031.57 | — |
| 2COIN US 06/20/25 C175.01 | Option | — | 28 | $120,694.84 | $543,031.57 | — |
| 2COIN US 06/20/25 P175.01 | Option | — | -28 | -$20,214.32 | $543,031.57 | — |
| CASH | Cash | — | 0 | $69,577.18 | $543,031.57 | — |
Holdings are subject to change. Current and future holdings are subject to risk.
Fund Details
Data as of 04/24/2025
Ticker
ICOI
Number of Holdings
5
Legal Counsel
Chapman and Cutler, LLP
Fund Type
ETF
Net Assets (AUM)
$543,032
Tax Advisor
KPMG
CUSIP
091748608
Net Expense Ratio*
0.98%
Administrator
Bank of New York Mellon
ISIN
US0917486088
Gross Expense Ratio*
0.99%
Distributor
Foreside Fund Services, LLC
Exchange
NYSE Arca
Inception Date
April 1, 2025
Custodian
Bank of New York Mellon
Shares Outstanding
10,004
Adviser
Bitwise Investment Manager, LLC
*The Fund's investment adviser has contractually agreed to waive its advisory fees and/or assume as its own expense certain expenses otherwise payable by the Fund to the extent necessary to ensure that total annual fund operating expenses do not exceed 0.95% of average daily net assets until March 25, 2027.
Frequently Asked Questions
The Bitwise Options Income Strategy ETFs seek to provide investors with monthly income by actively writing covered calls against long positions in individual crypto equities. This FAQ aims to answer commonly asked questions about these strategies.