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Crypto ETF BLOX, Which Offers Digital Asset Exposure and Options Income, Gains Steam

Published

2 месяца ago

4 июля, 2025

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A recently launched crypto ETF in the U.S., which offers diversified exposure to digital assets along with options income, is gaining traction in a sign that investors are looking beyond traditional, single-spot-focused products.

The Nicholas Crypto Income ETF (BLOX), an actively managed ETF designed for diversified exposure to the digital assets ecosystem while generating additional income via options strategies, went live on the NYSE on June 17. The ETF is the latest addition to the XFUNDS by Nicholas Wealth suite.

Since then, the ETF has registered a net inflow of around $4.52 million, according to data source VettaFi. BLOX’s website puts the total net assets at $4.9 million.

«The options income space is almost becoming its own asset class,» David Nicholas, CEO of XFUNDs, told CoinDesk in an interview, adding that the fund is drawing interest from yield-hungry retail investors.

Three-sleeved product

The fund, launched in partnership with Tidal Investments LLC, comprises of an equity sleeve that invests in publicly listed shares of crypto-related firms and companies holding digital assets on their balance sheets.

The second sleeve of the fund offers exposure to select bitcoin and ether exchange-traded funds, with the flexibility to expand exposure to other digital assets through potential regulated vehicles.

As of Thursday, the fund’s top 10 holdings included names such as BlackRock’s spot Ethereum ETF, Coinbase, Nvidia, MARA, Core Scientific, and others. The unique mix of holdings ensures that the performance isn’t entirely dependent on bitcoin’s (BTC) price.

«We own about 11 businesses, and we have high conviction that they will benefit from Bitcoin or Ether appreciation, but they aren’t crypto assets themselves. So, you gain exposure to both cryptocurrency and publicly traded companies with earnings and growth. We think that combination inside the fund is pretty unique,» Nicholas said.

Finally, there is an options sleeve that generates income. The fund writes call/put spreads on the crypto sleeve while selectively writing covered calls or put spreads on its equity holdings.

Writing an option is akin to selling insurance against bullish or bearish price moves in return for an upfront premium, which represents the income of the writer (seller).

Writing put spreads against holdings allows the fund to collect premiums as the assets appreciate, providing additional income alongside the gains from the underlying holdings. BLOX trades options tied to the spot ETFs, including those linked to BlackRock’s spot bitcoin ETF, IBIT.

For instance, shares in Coinbase, one of the ETF’s top 10 holdings, rose over 14% in the last week of June. The fund’s three-sleeved structure means it likely captured the full rally alongside income through put spreads. The same can be said with respect to Core Scientific, which recently rose 15%.

«That’s what’s great about put spreads—there’s no cap. A put spread is a long, bullish options position,» Nicholas said. The income from options and dividends on stock holdings is distributed to subscribers every week.

Note that crypto holders have been writing put spreads and higher-strike calls on the offshore derivatives giant Deribit for some time. These yield-generation strategies are quite popular in the equity markets.

Open to altcoin inclusion

When asked about the growing interest in ETFs tied to major altcoins such as Solana’s SOL (SOL), XRP (XRP) and others, Nicholas said they will accommodate the new ones as and when they become available.

«Once the SEC approves others—like Solana, which has a pending ETF—we can file an amendment and add them to our fund. So we wouldn’t need a new ETF. Since we see this as a broad crypto exposure fund, we’d just edit the existing structure to include new assets,» Nicholas told CoinDesk.

Business

Crypto Trading Firm Keyrock Buys Luxembourg’s Turing Capital in Asset Management Push

Published

11 минут ago

16 сентября, 2025

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Crypto trading firm Keyrock said it’s expanding into asset and wealth management by acquiring Turing Capital, a Luxembourg-registered alternative investment fund manager.

The deal, announced on Tuesday, marks the launch of Keyrock’s Asset and Wealth Management division, a new business unit dedicated to institutional clients and private investors.

Keyrock, founded in Brussels, Belgium and best known for its work in market making, options and OTC trading, said it will fold Turing Capital’s investment strategies and Luxembourg fund management structure into its wider platform. The division will be led by Turing Capital co-founder Jorge Schnura, who joins Keyrock’s executive committee as president of the unit.

The company said the expansion will allow it to provide services across the full lifecycle of digital assets, from liquidity provision to long-term investment strategies. «In the near future, all assets will live onchain,» Schnura said, noting that the merger positions the group to capture opportunities as traditional financial products migrate to blockchain rails.

Keyrock has also applied for regulatory approval under the EU’s crypto framework MiCA through a filing with Liechtenstein’s financial regulator. If approved, the firm plans to offer portfolio management and advisory services, aiming to compete directly with traditional asset managers as well as crypto-native players.

«Today’s launch sets the stage for our longer-term ambition: bringing asset management on-chain in a way that truly meets institutional standards,» Keyrock CSO Juan David Mendieta said in a statement.

Business

Crypto Trading Firm Keyrock Buys Luxembourg’s Turing Capital in Asset Management Push

Published

11 минут ago

16 сентября, 2025

admin

Crypto trading firm Keyrock said it’s expanding into asset and wealth management by acquiring Turing Capital, a Luxembourg-registered alternative investment fund manager.

The deal, announced on Tuesday, marks the launch of Keyrock’s Asset and Wealth Management division, a new business unit dedicated to institutional clients and private investors.

Business

Gemini Shares Slide 6%, Extending Post-IPO Slump to 24%

Published

20 минут ago

16 сентября, 2025

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Gemini Space Station (GEMI), the crypto exchange founded by Cameron and Tyler Winklevoss, has seen its shares tumble by more than 20% since listing on the Nasdaq last Friday.

The stock is down around 6% on Tuesday, trading at $30.42, and has dropped nearly 24% over the past week. The sharp decline follows an initial surge after the company raised $425 million in its IPO, pricing shares at $28 and valuing the firm at $3.3 billion before trading began.

On its first day, GEMI spiked to $45.89 before closing at $32 — a 14% premium to its offer price. But since hitting that high, shares have plunged more than 34%, erasing most of the early enthusiasm from public market investors.

The broader crypto equity market has remained more stable. Coinbase (COIN), the largest U.S. crypto exchange, is flat over the past week. Robinhood (HOOD), which derives part of its revenue from crypto, is down 3%. Token issuer Circle (CRCL), on the other hand, is up 13% over the same period.

Part of the pressure on Gemini’s stock may stem from its financials. The company posted a $283 million net loss in the first half of 2025, following a $159 million loss in all of 2024. Despite raising fresh capital, the numbers suggest the business is still far from turning a profit.

Compass Point analyst Ed Engel noted that GEMI is currently trading at 26 times its annualized first-half revenue. That multiple — often used to gauge whether a stock is expensive — means investors are paying 26 dollars for every dollar the company is expected to generate in sales this year. For a loss-making company in a volatile sector, that’s a steep price, and could be fueling investor skepticism.