GrayscaleThematic Income#18 of 36 by YTD

Grayscale Bitcoin Premium Income ETFBPI

S&P 500 Compare

$23.00−1.3%

−$0.30 · Nov 9 close

Buy

AUM: $2M
Fee: 0.66%
Yield: 20.9%

Bumpy · 1Y: 2.9×S&P
Volume: 381
NAV: $23.23

52-week range39% below the high

$18.55$37.58

Returns	Today	1W	1M	3M	YTD	1Y	3Y	5Y	Max
Total return	−1.3%	−2.3%	−8.4%	+17.2%	−11.3%	−22.6%	—	—	−12.5%
Peer average	+1.1%	−1.4%	−11.0%	+2.9%	−1.4%	−7.9%	+80.0%	+92.4%	—
S&P 500 · VOO	+2.3%	+0.1%	−3.3%	−2.1%	+11.3%	+13.6%	+81.6%	+75.4%	—

BPI in One Breath

BPI Among Thematic Income ETFs

YTD

#1SOXYYieldMax+38.2%$53.7M

#2CHPYYieldMax+35.3%$1.1B

#3TDVProShares+19.6%$263M

#4TYLGGlobal X+16.6%$13.9M

#5TDIVFirst Trust+16.3%$4.1B

#6TDVIFirst Trust+16.3%$628M

#7GPTYYieldMax+13.4%$117M

#8CEPIRexshares+10.1%$105M

#11BPIGrayscale−11.3%$2.3M

End-of-day Nov 9, 2026 · 21 Thematic Income ETFs by YTD

$10,000 in BPI

$10,000 in BPI became

$8,749

In the S&P 500 (VOO)

$13,567

Total return, dividends in · Apr 2, 2025 – Nov 9, 2026 · S&P 500 uses VOO

BPI Returns by Period

Today

YTD

MAX

BPI

−1.3%

−8.4%

+17.2%

−11.3%

−22.6%

—

−12.5%

Peer average

+1.1%

−11.0%

+2.9%

−1.4%

−7.9%

+80.0%

+92.4%

—

S&P 500 · VOO

+2.3%

−3.3%

−2.1%

+11.3%

+13.6%

+81.6%

+75.4%

—

End-of-day Nov 9, 2026 · total return, dividends in · peers = 25 Thematic Income ETFs

BPI’s Thematic Income Rank

YTD

#18of 36
thematic income ETFs

Best · SOXY+38.2%

Average−5.4%

BPI−11.3%

Worst · MST−65.0%

Thematic Income ETFs by YTD return · Nov 9, 2026

BPI Price and 52-Week Range

From the 52-week high

−38.8%

From the 52-week low

+24.0%

Today $22.95 – $23.00

Previous close $23.30

$23.00 now

52-week low$18.5552-week high$37.58

End-of-day Nov 9, 2026 · box = today’s range, dashed = previous close

BPI’s Size vs Its Peers

Today

$2.3M#24 by size of 26 thematic income ETFs

AUM · BPI and the 5 largest peers · Nov 9, 2026

BPI Fee per $100 vs Peers

Today

$0.66a year
per $100

$66 a year on $10,000

TDV$0.45

TDIV$0.50

BPI$0.66

TDVI$0.75

BTCI$0.99

CHPY$1.03

Expense ratio · Thematic Income peers · Nov 9, 2026

Inside BPI

6 holdings

BPI

Grayscale Bitcoin Premium Income ETF

Today

BPI reports no holdings we can show: […]

Grayscale BPI · holdings

How It Compares

BPI

Grayscale Bitcoin Premium Income ETF’s Peers

YTD


TDIV	First TrustRead Desk	0.50%	+16.3%	+15.5%	$4.1B
BTCI	NEOSRead Desk	0.99%	−15.5%	−25.6%	$1.3B
CHPY	YieldMaxRead Desk	1.03%	+35.3%	+41.2%	$1.1B
TDVI	First TrustRead Desk	0.75%	+16.3%	+15.6%	$628M
TDV	ProSharesRead Desk	0.45%	+19.6%	+20.7%	$263M
BPI	GrayscaleThis fundRead Desk	0.66%	−11.3%	−22.6%	$2M

Thematic Income peers · YTD and past-year returns · as of Nov 10, 2026 · sorted by AUM

Head to Head

Put BPI head to head with TDIV →

TDIV vs BPI

YTD

TDIVFirst TrustBPIGrayscale

Year to date

+16.3%

−11.3%

TDIV wins+27.7 pts

Past year

+15.5%

−22.6%

TDIV wins+38.1 pts

Fee

0.50%

0.66%

TDIV winslower fee

Yield

1.4%

20.9%

BPI wins+19.5 pts

AUM

$4.1B

$2.3M

TDIV1774.8× more

3–1TDIV wins

First Trust TDIV and Grayscale BPI · year-to-date · as of Nov 10, 2026 · AUM not scored

BPI vs VOO

YTD

BPI · Grayscale Bitcoin Premium Income

−11.3%

VOO · S&P 500

+11.3%

Gap

22.6 pts

Grayscale BPI and Vanguard VOO · YTD total return · as of Nov 10, 2026

BPI vs Its Peer Average

YTD

BPIAvsBPeer average

1D−1.3%+1.1%

1M−8.4%−11.0%

3M+17.2%+2.9%

YTD−11.3%−1.4%

1Y−22.6%−7.9%

3Y[…]+80.0%

5Y[…]+92.4%

2–3Peer average wins

25 Thematic Income peers · each row scaled to its leader

How Bumpy Is BPI?

View

BPI

How Bumpy

2.9×the S&P 500’s swings

CalmerBumpierS&P 1×BPI

Calm rank among 6 thematic Income funds#5

Other thematic Income funds1.5× to 3.2×

Grayscale BPI · daily swings over the past year vs the S&P 500

BPI

Worst Drop

−41.7%from its Nov 10 high

Still below the high−26.3%

$10,000 at the high is now$7,370

Grayscale BPI · fall from the highest close, past year

BPI

On a Bad Day

1.7×the S&P 500’s fall

BPI’s worst day: Thursday, Feb 5

BPI

−13.8%

S&P 500

−1.2%

Up days49 of every 100

S&P 500 up days52 of every 100

Grayscale BPI · average move on days the S&P 500 fell

BPI

Return for the Bumps

1Y#5 of 6 thematic Income funds

#1CHPYYieldMax

most for the bumps

#2TDVProShares

calmest ride

#3TDVIFirst Trust

#4TDIVFirst Trust

#5BPIGrayscale

lost money

#6BTCINEOS

lost money

Ranked by return above cash for each unit of bumpiness (Sharpe ratio) · cash = 3.8%

BPI

Cost

Today

$66a year per $10,000

TDV

$45

TDIV

$50

BPI

$66

TDVI

$75

XBCI

$98

BTCI

$99

CHPY

$103

Expense ratio 0.66%, taken from the fund’s value

BPI

Volatility & Beta

39.9%annual volatility

S&P 500 volatility13.7%

Downside volatility29.4%

Beta vs SPY1.42

Correlation vs SPY0.49

Beta rank, lowest first, of 6#5

Daily total returns × √252 · past 254 trading days

BPI

Max Drawdown

−41.7%peak to trough

Peak closeNov 10, 2025

Current drawdown−26.3%

Worst day−13.76% · Feb 5

Closing prices, dividends in

BPI

Up / Down Capture

171%down capture vs SPY

Down days

171%

Up days

126%

S&P 500

100%

Up ÷ down capture0.74

Up days49.2% (S&P 52.4%)

Average daily move on SPY up days and down days

BPI

Sharpe & Sortino vs Peers

Fund	Sharpe	Sortino	Volatility	Max DD	Beta	Fee / $10k
CHPY	0.83	1.16	43.9%	−38.2%	2.41	$103
TDV	0.82	1.17	20.5%	−9.5%	1.26	$45
TDVI	0.56	0.77	20.9%	−16.0%	1.26	$75
TDIV	0.54	0.74	21.6%	−16.3%	1.34	$50
BPI	−0.65	−0.89	39.9%	−41.7%	1.42	$66
BTCI	−0.73	−1.01	39.6%	−41.2%	1.42	$99

Sharpe = (return − 3.8% cash) ÷ volatility · Sortino uses downside volatility only

BPI

Trading

Today

−0.99%below its holdings’ value

Close$23.00

NAV$23.23

Fee per $10,000$66 a year

Avg. volume 30D884 shares

Premium / discount history starts once daily NAV is saved

Close vs net asset value, Nov 9

The Details

BPI

Fund Facts

Today

2025launched Apr 2

Tracks[…]

Exchange · CUSIPAMEX · 38963H404

StructureETF

Leverage1x

Cost on $10,000$66 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

Grayscale BPI · fund facts · as of Nov 10, 2026

BPI

Payouts by Year

$0.18per share, Oct 2026

Distribution yield20.9%

PaidEvery week

Latest ex-date · paidOct 29 · Oct 30, 2026

12 payouts added up$2.01 a share

Grayscale BPI · distributions by ex-date · 2025–2026

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

SEC reported portfolio · 2026-06-30 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2026-03-31 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2025-12-31 ↗SEC reported portfolio · 2025-09-30 ↗SEC reported portfolio · 2025-06-30 ↗summary prospectus · SEC 497K ↗summary prospectus · SEC 497K ↗prospectus · SEC 497 ↗summary prospectus · SEC 497K ↗summary prospectus · SEC 497K ↗prospectus · SEC 485APOS ↗prospectus · SEC 485APOS ↗prospectus · SEC 485APOS ↗

Trading & Liquidity

Net asset value$23.23

Premium / discount[…]

Median spread · 30D[…]

Volume today381

Average volume · 30D884

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.66%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$66.00

Our risk indicator4/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Oct 29, 2026	Oct 30, 2026	$0.18
Oct 14, 2026	Oct 15, 2026	$0.21
Sep 29, 2026	Sep 30, 2026	$0.25
Sep 14, 2026	Sep 15, 2026	$0.13
Aug 28, 2026	Aug 31, 2026	$0.21
Aug 13, 2026	Aug 14, 2026	$0.0877
Jul 30, 2026	Jul 31, 2026	$0.0695
Jul 14, 2026	Jul 15, 2026	$0.17
Jun 29, 2026	Jun 30, 2026	$0.15
Jun 12, 2026	Jun 16, 2026	$0.21
May 28, 2026	May 29, 2026	$0.15
May 14, 2026	May 15, 2026	$0.18

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