The Grayscale Ethereum Covered Call ETF (ETCO) is an actively managed exchange-traded fund from Grayscale that began trading on NYSE Arca on September 3, 2025. The fund seeks to provide and deliver high income, with exposure to the returns of one or more exchange-traded products that hold ether, including Grayscale Ethereum Trust ETF (ETHE) and Grayscale Ethereum Mini Trust ETF (ETH). It does not hold ether directly. ETCO systematically writes call options close to market prices on those ethereum ETPs and commits to keeping at least 80% of assets in derivatives tied to them. Distributions are targeted twice per month, on the 15th and 30th. The fund is a series of Grayscale Funds Trust, a Delaware statutory trust, and sits alongside Grayscale's bitcoin income products BTCC and BPI.