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Global X Launches Ethereum Covered Call ETF Targeting Weekly Income

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Global X Management Company has launched the Global X Ethereum Covered Call ETF (EHCC), a new fund that writes call options on Ether-related ETPs to generate weekly income distributions, marking the firm’s first crypto ETF beyond Bitcoin.

The fund carries a 0.75% expense ratio, is actively managed, and invests at least 80% of net assets in U.S.-listed Ether ETPs, including spot and futures products, without directly holding the digital asset.

EHCC brings Global X’s total digital asset ETF count to four. It launched with CUSIP 37966B802, an inception date of March 16, 2026, and The Bank of New York Mellon as custodian. The firm manages $78.1 billion in AUM as part of Mirae Asset Financial Group’s $803 billion global platform.

Key Takeaways:

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  • Ticker: EHCC – Global X Ethereum Covered Call ETF, launched April 2, 2026.
  • Expense Ratio: 0.75%, actively managed, no minimum investment.
  • Strategy: Writes call options on Ether ETPs; distributes option premiums to investors weekly.
  • Tradeoff: Upside above the strike price is capped; downside exposure remains.
  • Competitor: Amplify’s EHY has been running the same structure since October 9, 2025, also at 0.75%.

Discover: The Best Crypto to Buy Right Now

What EHCC Actually Does – and Why Ether’s Volatility Is the Product

The core mechanic is straightforward: EHCC holds Ether-linked ETPs and sells call options against that exposure. The option premiums collected are distributed weekly.

In exchange, the fund surrenders gains above the strike price in a rally – a direct cap on upside that income-focused investors are explicitly accepting as the deal.

Pedro Palandrani, Head of Product Research & Development at Global X, framed the thesis plainly: “Although we believe ether has significant growth potential, it’s also a highly volatile asset, which we believe makes it well suited for a covered call strategy that aims to generate weekly income while maintaining exposure to potential price appreciation.”

That volatility isn’t a bug here – it’s what inflates the option premiums that fund the distributions.

Ethereum’s price dynamics make it a credible covered call substrate. ETH has historically moved 60-80% annualized volatility in active periods, which translates directly into fatter premiums when writing calls.

Amplify’s competing EHY, launched October 9, 2025, targets 50-80% annualized option premiums using the same weekly cadence and the same 0.75% fee. EHCC enters a market that already has a benchmark.

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The SEC’s May 2024 approval of spot Ether ETFs is what made this structure viable – EHCC needs liquid, regulated Ether ETPs to write options against. Without that underlying infrastructure, the fund doesn’t exist. Bitcoin ETF market trends showed that once regulated wrappers gain traction, derivative income strategies follow fast. That playbook is now running on ETH.

Ethereum (ETH)
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The risk is asymmetric in one specific way: EHCC retains full downside exposure to Ether while capping the upside. In a sustained ETH bull run, holders underperform a straight spot position. In a choppy or declining market, the premium income provides a buffer – but not a floor. That’s the trade.

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The Ethereum Income ETF Space Is Getting Crowded – Fast

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Global X isn’t first to this specific trade. Amplify’s EHY has six months of operational history, giving it a performance track record EHCC currently lacks.

Amplify also has ETTY – an Ethereum 3% monthly option income ETF – already in the market, signaling a multi-product Ether income strategy that Global X is now moving to match.

The institutional backdrop supports the build-out. Ethereum’s growing role in institutional tokenization is pulling traditional asset managers toward ETH-denominated products.

Ethereum ETFs Total Flows / Source: SoSoValue

Regulated income vehicles lower the barrier for allocators who want ETH exposure without the custody risk or the volatility of a direct position. EHCC slots directly into that demand.

Watch EHCC’s first weekly distributions and net inflow trajectory against EHY as the real test. If Global X’s distribution brand and $78.1 billion AUM distribution network pulls traditional ETF investors into the Ether income category, this launch matters beyond the product itself, it normalizes weekly crypto yield as a standard ETF feature.

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If flows stay thin, it confirms EHY has the first-mover lock and EHCC is a late follow-on. Q2 2026 will answer that.

Explore: The best pre-launch token sales with asymmetric upside potential

The post Global X Launches Ethereum Covered Call ETF Targeting Weekly Income appeared first on Cryptonews.

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Crypto World

Telegram Has Been Downloaded Over 50M Times in Iran, Despite Ban: Durov

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Decentralization, Privacy, Liberty, Telegram, Cypherpunks, Pavel Durov

The Iranian government’s attempt to block the Telegram messaging application in the country has backfired, as users find ways to circumvent national firewalls and online controls, according to Telegram co-founder Pavel Durov.

“Iran banned Telegram years ago,” Durov said on Friday; however, tens of millions of users in the country have managed to access the application via virtual private networks (VPNs) and other similar tools, he added.

VPNs route web traffic through servers distributed around the globe to mask the true Internet Protocol (IP) addresses of users and obscure their locations. This allows individuals with VPN access to bypass national online restrictions. Durov said:

“The government hoped for mass adoption of its surveillance messaging apps, but got mass adoption of VPNs instead. Now, 50 million members of the digital resistance in Iran are joined by over 50 million more in Russia.”

Decentralization, Privacy, Liberty, Telegram, Cypherpunks, Pavel Durov
Source: Pavel Durov

Decentralized technologies like blockchain, crypto and encrypted messaging applications can mitigate or neutralize state-imposed online restrictions and surveillance infrastructure, promoting individual liberty, proponents of decentralized technology say.

Related: Global turmoil pushes uptake of decentralized messengers, social media

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Users turn to decentralized alternatives amid online blackouts

The government of Iran imposed a nationwide internet blackout in January 2026, amid growing protests and civil unrest, which is still in effect due to the ongoing war between Israel, the United States and Iran.

Residents in the country can still access the internet through Starlink, a satellite-based network, or communicate via BitChat, a messaging application that uses Bluetooth radio waves to form a mesh network between devices.

BitChat’s mesh network transforms each device into a relay node that transfers data to other devices running the application within range, bypassing online and satellite-based systems entirely.

Decentralization, Privacy, Liberty, Telegram, Cypherpunks, Pavel Durov
The components of the BitChat messaging application tech stack. Source: GitHub

The government of Nepal imposed a social media ban in September 2025 amid growing protests, causing a spike in BitChat downloads.

Bitchat was downloaded over 48,000 times in Nepal the week of the social media ban, and the government of Nepal was toppled by protestors that same month.

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The application recorded a similar download spike in Madagascar amid protests, which also occurred around the same time as the political revolution in Nepal.

Magazine: Did Telegram’s Pavel Durov commit a crime? Crypto lawyers weigh in