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Ahmed Balaha
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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 ETPs related to Ethereum to create weekly dividend distributions, marking the first crypto ETF beyond Bitcoin.
The fund has a 0.75% investment ratio, is actively managed, and invests at least 80% of all Ether ETPs listed in the US, including real estate and futures, without directly holding digital assets.
EHCC brings the number of Global X digital asset ETFs to four. It was initiated by CUSIP 37966B802, with an effective date of March 16, 2026, with Bank of New York Mellon as trustee. The firm manages $78.1 billion in AUM as part of the $803 billion global Mirae Asset Financial Group.
Essentials:
- Ticker: EHCC – Global X Ethereum Covered Call ETF, launched on April 2, 2026.
- Cost of Money: 0.75%, fast processing, no minimum deposit.
- Method: Writes call options on Ether ETPs; distributes option payments to investors on a weekly basis.
- Exchange: The upper part of the shooting beam is closed; The bottom exposure remains.
- Contender: Amplify’s EHY has been running the same since October 9, 2025, and at 0.75%.
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What EHCC Really Does – and Why Ether Volatility Is a Product
The basic mechanism is simple: EHCC holds ETPs linked to Ether and trades call options against these. The collected decisions are shared every week.
Instead, the fund offers a profit above the stock price in meetings – a direct cap that investors implicitly accept as a contract.
Pedro Palandrani, Director of Product Research & Development at Global X, put this point clearly: “Although we believe that ether has the potential to grow, it is also a very volatile commodity, which we believe makes it suitable for use in an exchange system that aims to generate weekly income and ensure potential appreciation.”
That volatility isn’t the problem here – it’s the increased cash flow that pays the dividends.
Ethereum price change make it a reliable covered area. ETH has already moved 60-80% annual volatility in the working time, which directly translates to higher payments for writing calls.
Amplify’s competing EHY, which launched on October 9, 2025, is seeking 50-80% of the selected annual fee using the same weekly cadence and the same 0.75% fee. EHCC enters an already benchmark market.
The SEC’s May 2024 approval of spot Ether ETFs is what made the system work – EHCC requires liquid, regulatory Ether ETPs to write options against. Without such a foundation, the fund does not exist. Bitcoin ETF price history showed that when regulatory wrappers gain power, revenue streams quickly follow. The game is running on ETH.
The risk is irreversible in one way: EHCC maintains full exposure to Ether while raising the upside. In ETH’s unsustainable bull run, owners do not fare well in the vertical position. In a tough or down market, premiums provide protection – but not the bottom. That’s the trade.
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The Ethereum Income ETF Space Is Crowding Out – Fast
Global X has not started this business. Amplify’s EHY has a six-month track record, giving it the track record EHCC lacks.
Amplify also has ETTY – an Ethereum 3% monthly investment strategy ETF – which is already on the market, reflecting the many Ether investment strategies that Global X is now moving to match.
The result of the institution helps to create. Ethereum is a growing field in tokenization it is attracting traditional wealth managers to ETH-generated products.
Coin driven vehicles lower the barrier for distributors who want exposure to ETH without the risk of storage or direct volatility. EHCC taps directly into that demand.
Check out EHCC’s first weekly distribution and entry options against EHY as a real test. If the Global X distribution model with $78.1 billion distribution AUM attracts ETF investors in the Ether fund group, this setup will be more important than the trade, making the crypto yield not lose every week as part of the ETF.
If the water flow is low, it ensures that the EHY has an initial lock and the EHCC is a late follower. Q2 2026 will answer that.
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