Key Takeaways
- • Bitwise Asset Management will liquidate six option income strategy ETFs effective August 10, 2026, with the last day of trading set for July 31, 2026 across all six funds listed on NYSE Arca.
- • The affected ETFs track COIN (cryptocurrency index), MARA (Marathon Digital), MSTR (MicroStrategy), GME (GameStop), CRCL (Circleup), and Ethereum, representing a strategic retreat from this product category despite the firm's $11 billion in total client assets.
- • Final NAV calculation dates are set for August 7, 2026, with liquidation proceedings to conclude by August 10, 2026; investors have until July 31, 2026 to purchase or trade creation units.
- • This correction announcement clarifies liquidation timelines and procedures for institutional and retail investors holding positions in Bitwise's option income strategy suite.
Summary
Bitwise Asset Management, the San Francisco-based crypto asset manager overseeing $11 billion in client assets as of April 1, 2026, announced on June 30, 2026 its plan to close and liquidate six option income strategy ETFs. The decision represents a significant portfolio restructuring affecting funds designed to generate income through covered call and option strategies across both cryptocurrency and equities sectors.
The six liquidated funds include the Bitwise COIN Option Income Strategy ETF (ICOI), Bitwise MARA Option Income Strategy ETF (IMRA), Bitwise MSTR Option Income Strategy ETF (IMST), Bitwise GME Option Income Strategy ETF (IGME), Bitwise CRCL Option Income Strategy ETF (ICRC), and Bitwise Ethereum Option Income Strategy ETF (IETH). All six funds trade on NYSE Arca and will follow an identical liquidation schedule.
The liquidation timeline is clearly defined: investors may purchase creation units through July 31, 2026, which marks both the final day of trading and the last day to create units. The final NAV calculation date is August 7, 2026, and all liquidation proceeds will be distributed by August 10, 2026. This structured approach allows institutional investors and fund shareholders adequate notification and settlement procedures to adjust positions prior to final redemption.
The liquidation announcement arrives as Bitwise continues operating a broader suite of 70 investment products focused on crypto assets and blockchain-related equities. The closure of the option income strategy line suggests potential strategic reallocation of resources or reassessment of demand for these specific covered call products within the cryptocurrency and equities option space.
The six liquidated funds include the Bitwise COIN Option Income Strategy ETF (ICOI), Bitwise MARA Option Income Strategy ETF (IMRA), Bitwise MSTR Option Income Strategy ETF (IMST), Bitwise GME Option Income Strategy ETF (IGME), Bitwise CRCL Option Income Strategy ETF (ICRC), and Bitwise Ethereum Option Income Strategy ETF (IETH). All six funds trade on NYSE Arca and will follow an identical liquidation schedule.
The liquidation timeline is clearly defined: investors may purchase creation units through July 31, 2026, which marks both the final day of trading and the last day to create units. The final NAV calculation date is August 7, 2026, and all liquidation proceeds will be distributed by August 10, 2026. This structured approach allows institutional investors and fund shareholders adequate notification and settlement procedures to adjust positions prior to final redemption.
The liquidation announcement arrives as Bitwise continues operating a broader suite of 70 investment products focused on crypto assets and blockchain-related equities. The closure of the option income strategy line suggests potential strategic reallocation of resources or reassessment of demand for these specific covered call products within the cryptocurrency and equities option space.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.