According to Decrypt, the Roundhill Bitcoin Covered Call Strategy ETF (YBTC) has announced its first distribution to investors, amounting to $1.33 per share. Based on the fund's current net asset value, this equals a 33% annual distribution yield. Launched on January 18, YBTC aims to achieve its investment objectives through a synthetic covered call strategy that provides monthly income. The fund invests 80% of its net assets into options contracts using shares in Bitcoin futures ETFs as the reference asset, but does not invest directly in Bitcoin. As of Monday, the fund's assets were mostly held in U.S. treasury bills, with some exposure to calls and puts for the ProShares Bitcoin Strategy ETF (BITO). YBTC is an actively managed fund and trades for $49.50 as of Monday, up 5% over the last five trading days.