Binance taps into Bitcoin holders’ hunger for yield with new covered call yield play
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Binance has introduced a product for bitcoin BTC $ 63,044.71 holders looking to earn extra yield on their investment without selling any of it, joining the likes of BlackRock in helping them maximize returns.
Key facts
- Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B
- Binance takes a 15% share of gross option premiums before calculating user yield, and redemption fees apply when exiting
- Binance has introduced a product for bitcoin BTC $ 63,044.71 holders looking to earn extra yield on their investment without selling any of it, joining the likes of BlackRock in helping them maximize
- The product, BTC Yield, is available inside Binance Earn and is designed exclusively for people who already hold bitcoin
Summary
The product runs a systematic covered call strategy, bringing yield-generation strategies to a wider pool of potential investors. Returns are not guaranteed, especially if bitcoin's price rises and the call options are exercised. The product, BTC Yield, is available inside Binance Earn and is designed exclusively for people who already hold bitcoin. Users deposit their bitcoin into the product and receive an internal position called BTCY, which tracks their share in the strategy.