REX Shares has launched a new exchange-traded fund, trading under the ticker GIF, that bundles nine of its single-stock Growth & Income ETFs into a single income-focused vehicle. GIF holds equal-weighted positions in REX’s existing single-stock funds; each underlying ETF targets roughly 1.25x exposure to its equity while selling covered calls on part of the position to generate option premium income.
The fund is listed on Cboe Global Markets. The underlying single-stock ETFs aim to distribute income weekly, with payouts primarily coming from premiums collected by writing covered calls. Covered-call premiums are the up-front payments a fund receives for selling call options on shares it owns, providing income in exchange for limiting some upside potential.
GIF provides equal-weighted exposure to nine REX Growth & Income ETFs tied to a range of large-cap and tech-related names: Nvidia (NVII), Tesla (TSII), Strategy (MSII), Coinbase (COII), Robinhood (HOII), Palantir (PLTI), CoreWeave (CWII), Eli Lilly (LLII) and Walmart (WMTI). The mix spans crypto-linked equities, technology, artificial intelligence, healthcare and retail sectors.
The GIF launch comes alongside separate developments tied to Strategy-related securities in Europe. 21Shares this week began trading an exchange-traded product on Euronext Amsterdam (ticker STRC NA) that offers European investors exposure to STRC, a variable-rate perpetual preferred instrument issued by Strategy.
Strategy also said that Prevalon Energy, an energy-infrastructure company, and Anchorage Digital, a crypto-focused digital-asset bank, have allocated portions of their corporate treasuries to STRC, although neither firm disclosed the sizes of their holdings. Strategy describes STRC as a digital credit instrument carrying an 11.25% annual dividend; the issuance is part of the company’s broader effort to create fixed-income securities tied to its Bitcoin holdings.
Since adopting a Bitcoin treasury strategy in August 2020, Strategy has become the largest corporate holder of Bitcoin, reporting 717,722 BTC — roughly 3.4% of Bitcoin’s fixed 21 million supply. Despite continued demand for products linked to Strategy, the company’s shares have declined with Bitcoin’s price: they have fallen more than 60% over the past six months and about 50% over the past year, according to Yahoo Finance. Strategy was also ranked as the most heavily shorted large-cap U.S. stock in a recent Goldman Sachs analysis, based on short interest relative to market value.
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