Global X Launches Ethereum Covered Call ETF Targeting Weekly Income

Global X Management Company has recently launched the Global X Ethereum Covered Call ETF (EHCC), a new fund designed to generate weekly income distributions by writing call options on Ether-related exchange-traded products (ETPs). This marks the firm's entry into the crypto ETF market beyond Bitcoin, expanding its digital asset ETF offerings to four.

The EHCC fund carries a 0.75% expense ratio and is actively managed, with a minimum investment requirement of $1,000. It invests at least 80% of net assets in U.S.-listed Ether ETPs, which include both spot and futures products. Importantly, the fund does not directly hold the digital asset itself, relying instead on ETPs to gain exposure to Ether's price movements.

The EHCC fund launched on April 2, 2026, with the CUSIP code 37966B802 and an inception date of March 16, 2026. The Bank of New York Mellon serves as the custodian for the fund. Global X is part of Mirae Asset Financial Group, which manages a total of $803 billion in assets globally, including $78.1 billion under the management of Global X.

The core strategy of the EHCC fund involves writing call options on Ether ETPs. By selling these options, the fund collects premiums, which are then distributed to investors weekly. In exchange for this income, the fund surrenders any gains above the strike price in a potential Ether rally, effectively capping the upside potential. This trade-off is appealing to income-focused investors who prioritize regular distributions over unlimited growth potential.

The EHCC fund is not the first of its kind, as Amplify's EHY fund has been running a similar structure since October 9, 2025, also at a 0.75% expense ratio. However, the launch of EHCC adds another option for investors seeking exposure to Ether's price movements while benefiting from the income generated through a covered call strategy.

Ether's volatility can present challenges for investors looking to maintain a stable portfolio. The EHCC fund aims to address this by offering a way to participate in Ether's price action while generating regular income. By writing call options against Ether ETPs, the fund provides a mechanism to capture the premiums paid by option buyers, which are then redistributed to shareholders.

In summary, the Global X Ethereum Covered Call ETF (EHCC) is a new addition to the crypto ETF market, designed to offer weekly income distributions to investors. Through its covered call strategy and exposure to Ether ETPs, the fund provides a unique opportunity for income-focused investors to participate in the Ether market while managing volatility risks. As part of Global X's growing digital asset ETF offerings, EHCC represents an innovative approach to generating regular returns in the rapidly evolving crypto space.