Grayscale says a Bitcoin covered call strategy could generate roughly 22% annualized return when the market trades sideways, framing option income as a way to earn yield on Bitcoin exposure during range-bound conditions rather than a guaranteed payout. The projection comes from Grayscale’s own research, which examines how investors might earn income from Bitcoin options while prices stay within a range, according to Grayscale’s analysis. For related coverage, see Bitcoin Falls Below $59,000 as BTC Drops 2.82% in 24 Hours.