Bitwise Asset Management announced on March 26 the monthly distributions for its suite of Option Income Strategy Exchange-Traded Funds, which include IMST, ICOI, IMRA, IGME, ICRC, and IETH.
The announcement provides details about the distribution rates as of 4 p.m. Eastern Time on March 26. The company said these rates reflect what an investor would receive annually if the most recent declared distribution remains unchanged. Bitwise explained that these rates are calculated by multiplying an ETF’s distribution per share by twelve and dividing by the most recent net asset value. The company cautioned that these distributions may include a mix of ordinary dividends, capital gains, and return of investor capital—which could decrease a fund’s net asset value and trading price over time—and that future distributions are not guaranteed.
Bitwise also noted risks associated with investing in these funds. “Performance data quoted represents past performance and is no guarantee of future results,” Bitwise said in its statement. It further advised investors to carefully consider investment objectives, risk factors, charges, and expenses before investing in any fund from their suite.
The firm clarified that investments in these funds do not represent direct investments in underlying securities such as COIN or Ether ETPs; instead, they use synthetic exposure through options strategies like covered calls. “A Fund’s strategy is subject to all potential losses if shares of the underlying security decrease in value,” Bitwise said.
Several risks were outlined including equity securities risk—where values can be more volatile than other asset classes—and digital assets risk related to holdings like bitcoin or other cryptocurrencies by companies linked to some ETFs. The company highlighted concerns such as regulatory uncertainty around digital assets and custody risks like hacking or malware attacks affecting those assets.
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