US asset manager REX Shares has launched the GIF ETF, an income-focused fund that combines nine leveraged single-stock strategies including crypto-linked equities Coinbase and Strategy.
The ETF trades on Cboe Global Markets and holds equal-weighted positions in REX’s Growth & Income ETFs, each targeting roughly 1.25x exposure to its underlying stock while selling covered calls to generate premium income.
Covered calls involve selling options on shares already owned, allowing the fund to collect upfront premiums in exchange for limiting some upside potential, with distributions expected on a weekly basis.
The portfolio spans Nvidia, Tesla, Strategy, Coinbase, Robinhood, Palantir, CoreWeave, Eli Lilly and Walmart, providing exposure across crypto-linked equities, AI, technology, healthcare and retail sectors.
The launch coincides with growing interest in Strategy-linked securities, as 21Shares listed an exchange-traded product tied to Strategy’s preferred stock STRC on Euronext Amsterdam.
Strategy said companies including Prevalon Energy and Anchorage Digital allocated treasury capital to STRC, which carries an 11.25% annual dividend and forms part of its Bitcoin-backed fixed-income strategy.
Since adopting its Bitcoin treasury approach in 2020, Strategy has accumulated 717,722 BTC, roughly 3.4% of total supply, though its shares have fallen more than 60% over the past six months alongside Bitcoin’s decline.
Despite demand for income-oriented products tied to high-volatility stocks, Strategy is now the most heavily shorted large-cap US stock by short interest relative to market value according to Goldman Sachs, underscoring continued scepticism around leveraged crypto-linked equities.
At the time of reporting, Bitcoin price was $67,245.83.