Hamilton ETFs has submitted a preliminary prospectus in Canada for an actively managed Bitcoin income exchange-traded fund designed to generate yield through leverage and short-term options strategies. The proposed Hamilton Enhanced Bitcoin DayMAX ETF intends to deploy covered-call strategies while capping leverage at approximately 25% of its net asset value. This structural approach aims to collect premiums from short-term options contracts tied to BTC price movements, effectively combining direct Bitcoin exposure with monthly income generation. The company stated the ETF would seek listing approval on Cboe Canada under the ticker symbol BDAY. This filing remains subject to regulatory approval before the fund can commence trading operations within the Canadian market.

The fund represents a strategic expansion of Hamilton ETFs' DayMAX lineup, which utilizes 0DTE, or zero-days-to-expiration, options contracts that expire on the same day they are traded. Hamilton ETFs manages approximately $16 billion in assets, according to the company, positioning it to execute complex active management strategies. Woofun AI notes that the integration of 0DTE options allows for precise hedging and yield capture in volatile markets, distinguishing this product from traditional passive holdings. As issuers expand beyond passive spot crypto products, asset managers are increasingly positioning digital assets as a category suited to more active investment strategies.

This filing aligns with a broader trend of institutional players entering the active crypto management space. In January, BlackRock filed for the iShares Bitcoin Premium Income ETF, an actively managed product designed to generate monthly income through covered-call strategies tied to Bitcoin exchange-traded products.

Concurrently, Bitwise Asset Management launched an actively managed ETF tied to assets including Bitcoin, precious metals, and mining stocks. These moves indicate a sector-wide pivot toward products that offer yield generation rather than simple price appreciation.

Industry leaders argue that the unique characteristics of the digital asset market favor active approaches. In March, 21Shares president Duncan Moir told Cointelegraph that crypto's early-stage and rapidly evolving market structure makes it particularly suited to active management approaches. He added that the company has expanded its trading and portfolio management teams to support more sophisticated products. Woofun AI observes that such structural adaptations are necessary to navigate the high volatility inherent in assets like BTC, ETH, and SOL.

Further evidence of this shift appears in recent regulatory filings by major financial institutions. In the same month, T. Rowe Price updated SEC filings for a proposed actively managed crypto ETF investing directly in digital assets including Bitcoin, Ether (ETH), and Solana (SOL). Goldman Sachs later filed for a Bitcoin income ETF designed to generate yield through call options tied to spot Bitcoin exchange-traded products. These filings suggest that the demand for active yield strategies is becoming a standard expectation among institutional investors.

The scale of the active management sector underscores the potential opportunity for these new crypto-focused products. from Goldman Sachs Asset Management, active ETFs held nearly $1.8 trillion in assets globally at the end of 2025. Woofun AI analysis suggests that as regulatory frameworks mature, the inflow of capital into active crypto strategies could mirror the growth seen in traditional equity and fixed-income active funds. The Hamilton ETFs filing serves as a critical data point in this evolving landscape, signaling that the era of passive-only crypto exposure is giving way to more nuanced, income-focused investment vehicles.