Cboe launches first backed call option index based on spot Bitcoin ETF

According to Cboe's official announcement, the Chicago Board Options Exchange recently launched its first covered call option index based on spot Bitcoin ETFs. This series includes two indices, BXGBTCA and BXGBTCT, which track the performance of the gray Bitcoin Trust ETF (GBTC)'s flat and 20% call option hedging strategies, respectively. The new product provides investors with a tool to manage Bitcoin risk exposure by synthesizing long GBTC and selling call options. This launch is Cboe's attempt to introduce traditional option return strategies into the digital asset market, where the index does not directly hold Bitcoin but tracks it through GBTC option contracts.