BlackRock, Binance, Bitwise, Lombard Converge on Bitcoin Yield Engine; LBTC Stands Apart

BlackRock, Binance, Bitwise and Lombard have independently adopted covered-call strategies to generate Bitcoin yield, using option premiums as the underlying income source. LBTC targets 2.5% net APY in BTC terms at full deployment, with Bitwise managing the strategy and returns remaining variable rather than guaranteed.