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YieldMax Bitcoin Option Income Strategy ETF has underperformed compared to its peers and a simple profit-taking strategy in Bitcoin spot ETFs since its inception. YBIT's synthetic covered call strategy limits upside potential, resulting in flat returns since it launched despite Bitcoin's significant gains. YBIT has also lagged behind more traditional income products like T-bills and corporate bonds, questioning its viability as an income investment.
Bitcoin has surged 148% this year, with a 65% rise post-election, driven by potential policy support from the incoming President. I have a buy rating on the YieldMax Bitcoin Option Income Strategy ETF for lower-risk exposure to bitcoin, despite its high expense ratio. YBIT's covered call strategy offers income from bitcoin's volatility, but caps upside gains; it's up 29% versus IBIT's 73% in three months.
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