Bitwise Reports Mixed Performance Across Option Income ETFs — Bitwise Asset Management, Inc.

Event summary

Bitwise announced monthly distributions for six Option Income Strategy ETFs on April 23, 2026.
Distribution rates ranged from 11.15% (IETH) to 25.93% (IMST).
One-month returns varied significantly, with IMRA up 14.26% and ICRC down 14.70%.
All funds reported 100% return of capital except IGME (0%).
Net expense ratios were 0.98% for most funds, with IETH at 0.97%.

The big picture

Bitwise's diverse suite of option income ETFs reflects the growing demand for yield-generating crypto strategies. The mixed performance highlights both opportunities and risks in synthetic exposure funds during volatile markets. With substantial holdings in major crypto-related companies, these products face unique concentration and regulatory challenges.

What we're watching

Income Strategy Viability: Whether Bitwise's covered call strategy can sustain high distribution rates amid volatile underlying assets.
Market Volatility Impact: How continued market fluctuations will affect the performance of these synthetic exposure funds.
Regulatory Scrutiny: The pace at which evolving digital asset regulations may impact Bitwise's option income products.