BDAY: the Hamilton Enhanced Bitcoin DayMAX ETF, explained

Short answer: BDAY is the Hamilton Enhanced Bitcoin DayMAX ETF, Canada’s first fund to combine bitcoin exposure with a same-day (0DTE) option-writing strategy, plus about 25% leverage. It began trading on Cboe Canada on June 25, 2026, charges a 0.85% management fee, pays twice a month, and is rated High risk.

Hamilton’s DayMAX funds write options that expire the same day they are sold, over and over, harvesting the fast time decay of ultra-short options for income. BDAY points that machine at bitcoin, one of the most volatile major assets there is, which makes the premiums rich and the risks correspondingly real. This is not financial advice.

What BDAY is

BDAY at a glance

Attribute	Detail
Ticker	BDAY
Issuer	Hamilton ETFs
Exposure	Primarily bitcoin, held via a spot bitcoin ETF
Strategy	Active 0DTE (same-day expiry) option writing, ~25% leverage
Management fee	0.85%
Distributions	Semi-monthly
Risk rating	High
Status	Trading on Cboe Canada since June 25, 2026

The catches

• Income from volatility is paid for in upside. Writing options against bitcoin exposure converts part of bitcoin’s famous rallies into premium collected earlier. In a monster bull run, BDAY should lag plain bitcoin, possibly by a lot.
• The downside stays yours. Option premiums cushion small dips. They do not protect against bitcoin’s habit of drawing down 50% or more, and the roughly 25% leverage deepens whatever comes.
• 0DTE is a high-wire act. Same-day options decay fast, which is the appeal, but the strategy depends on active management getting strikes and timing right every single day. There is little history for how this behaves on bitcoin through a full crypto cycle.
• Distributions can flatter. Twice-monthly payouts from an options fund can include return of capital. Total return, not the payout, is the scoreboard.

Frequently asked questions

When did BDAY launch?

It began trading on Cboe Canada on June 25, 2026, announced the day before as part of Hamilton’s DayMAX suite.

Does BDAY hold actual bitcoin?

Indirectly. Early disclosures show the exposure held primarily through a large spot bitcoin ETF rather than coins held directly by the fund.

Is BDAY better than just holding a bitcoin ETF?

Different job. A plain bitcoin ETF gives you the full ride, up and down, with no income. BDAY trades some of the up for twice-monthly cash and adds leverage and an options program on top. If you believe bitcoin goes much higher, plain exposure serves that view better. If you want income from bitcoin’s volatility and accept a capped share of rallies, that is the niche BDAY fills.

Bottom line

BDAY is a genuinely novel product, bitcoin income through same-day option writing, and novelty cuts both ways: rich premiums, no track record for the combination, and disclosure that leaves real questions about the mechanics. High risk is the correct label. If a small position fits your plan, Greenline will show you what it adds to, and subtracts from, everything else you own.