Binance Launches BTC Yield Covered-Call Product for Bitcoin Holders

Bitcoin itself does not generate interest, leaving long-term holders seeking additional returns largely reliant on lending or managing derivatives themselves. Binance has launched BTC Yield, bringing a covered-call strategy widely used in traditional finance to Binance Earn. The product allows users to collect option premiums by selling calls without first selling their bitcoin, although it may limit their upside.

Binance unveiled BTC Yield on July 7, 2026. Users who deposit BTC receive BTCY, representing their stake in the strategy. A portion of the premiums is converted into bitcoin and may be credited to spot accounts each Friday, while the remainder accrues in BTCY’s value. Binance deducts 15% of total premiums and charges a separate redemption fee. The principal is not protected, weekly distributions may be zero, and returns could lag those from holding BTC directly when bitcoin’s price surges.