Battle Of The Crypto Sector Covered Call ETFs
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With Bitcoin recently setting record highs, interest in crypto-related stocks is also at an all-time high. Our ETF Income Edge service researches and recommends high-yield ETFs that pay exceedingly attractive yields. My subscribers have been asking about a newly launched crypto ETF. There are actually two high-yield ETFs whose portfolios focus on cryptocurrency stocks. Let’s take a look at both and do some comparisons.
The REX Crypto Equity Premium Income ETF (CEPI) was launched on December 4, 2024, making it seven months old. The REX Shares website lists a current distribution yield of 41.85%.
Here are CEPI’s top holdings:
| Name | Identifier | Weight | Net Value | Shares Held |
|---|---|---|---|---|
| Cash & Other | 7.39% | $3,940,803.01 | 3940803 | |
| ADVANCED MICRO DEVICES INC | 7903107 | 5.47% | $2,915,537.04 | 18213 |
| MICROSTRATEGY INC-CL A | 594972408 | 5.32% | $2,834,330.30 | 6217 |
| COINBASE GLOBAL INC CLASS A | 19260Q107 | 5.27% | $2,810,893.80 | 7059 |
| MARATHON DIGITAL HOLDINGS INC | 565788106 | 5.19% | $2,764,698.48 | 142217 |
| ROBINHOOD MARKETS INC | 770700102 | 5.15% | $2,747,069.50 | 26606 |
| NVIDIA CORP | 67066G104 | 5.07% | $2,701,305.31 | 15763 |
| Riot Platforms Inc. | 767292105 | 4.87% | $2,594,108.61 | 206373 |
| Cleanspark Inc. | 18452B209 | 4.83% | $2,577,164.25 | 205025 |
| Tesla Inc. | 88160R101 | 4.81% | $2,562,423.22 | 7966 |
| NU HOLDINGS LTD/CAYMAN ISL A COMMON STOCK USD.000006667 | G6683N103 | 4.80% | $2,557,721.05 | 184673 |
| Taiwan Semiconductor Manufacturing Co. Ltd. Sponsored ADR | 874039100 | 4.77% | $2,541,416.88 | 10698 |
| MASTERCARD INC - A | 57636Q104 | 4.60% | $2,450,954.24 | 4412 |
| VISA INC-CLASS A SHARES | 92826C839 | 4.59% | $2,448,600.20 | 6998 |
| MICRON TECHNOLOGY INC | 595112103 | 4.49% | $2,391,239.34 | 20538 |
| INTERACTIVE BROKERS GRO-CL A | 45841N107 | 4.33% | $2,308,265.15 | 38827 |
| PAYPAL HOLDINGS INC | 70450Y103 | 3.61% | $1,926,408.00 | 26400 |
| APPLIED DIGITAL CORP COMMON STOCK USD 0.001 | 38169207 | 3.43% | $1,826,191.80 | 181530 |
| FISERV INC | 337738108 | 2.83% | $1,511,109.49 | 9119 |
| IREN Ltd | Q4982L109 | 2.82% | $1,505,035.26 | 86946 |
| Block, Inc. | 852234103 | 2.62% | $1,396,131.75 | 20225 |
| TERAWULF INC | 88080T104 | 2.52% | $1,341,401.25 | 255505 |
| CORE SCIENTIFIC INC | 21874A106 | 1.95% | $1,039,281.12 | 74661 |
| BITDEER TECHNOLOGIES GROUP A COMMON STOCK | G11448100 | 1.14% | $607,932.00 | 45032 |
| CIPHER MINING INC COMMON STOCK USD1.0 | 17253J106 | 1.09% | $582,978.33 | 92979 |
| First American Treasury Obligations Fund 01/01/2040 | 31846V328 | 1.07% | $568,166.67 | 568167 |
| RAMBUS INC | 750917106 | 1.07% | $570,787.34 | 8546 |
| RAMBUS I CLL OPT 08/25 67.500 | -0.05% | ($27,370.00) | -85 | |
| PYPL US 08/15/25 C80 | -0.06% | ($33,792.00) | -264 | |
| FI US 08/15/25 C175 | -0.06% | ($34,580.00) | -91 | |
| MA US 08/15/25 C570 | -0.08% | ($42,240.00) | -44 | |
| INTERACT CLL OPT 08/25 65 | -0.08% | ($40,740.00) | -388 | |
| V US 08/15/25 C360 | -0.08% | ($44,160.00) | -69 | |
| BITDEER CLL OPT 08/25 15 | -0.10% | ($50,850.00) | -450 | |
| MICRON T CLL OPT 08/25 125 | -0.10% | ($51,660.00) | -205 | |
| NVIDIA C CLL OPT 08/25 180 | -0.10% | ($54,950.00) | -157 | |
| CIPHER M CLL OPT 08/25 7 | -0.10% | ($52,953.00) | -929 | |
| TAIWAN S CLL OPT 08/25 250 | -0.11% | ($59,360.00) | -106 | |
| CORE SCI CLL OPT 08/25 15 | -0.12% | ($65,648.00) | -746 | |
| BLOCK I CLL OPT 08/25 70 | -0.17% | ($88,274.00) | -202 | |
| TERAWULF CLL OPT 08/25 5.500 | -0.25% | ($135,415.00) | -2555 | |
| NU HOLDI CLL OPT 08/25 14 | -0.25% | ($131,066.00) | -1846 | |
| TSLA US 08/15/25 C330 | -0.26% | ($136,275.00) | -79 | |
| IREN LIM CLL OPT 08/25 18 | -0.26% | ($137,302.00) | -869 | |
| MICROSTR CLL OPT 08/25 470 | -0.26% | ($138,260.00) | -62 | |
| APPLIED CLL OPT 08/25 11 | -0.29% | ($152,460.00) | -1815 | |
| AMD US 08/15/25 C160 | -0.35% | ($185,458.00) | -182 | |
| RIOT PLA CLL OPT 08/25 13 | -0.37% | ($198,048.00) | -2063 | |
| CLEANSPA CLL OPT 08/25 13 | -0.38% | ($205,000.00) | -2050 | |
| COINBASE CLL OPT 08/25 400 | -0.40% | ($213,150.00) | -70 | |
| ROBINHOO CLL OPT 08/25 105 | -0.40% | ($212,268.00) | -266 | |
| MARA HOL CLL OPT 08/25 20 | -0.41% | ($218,988.00) | -1422 |
Year-to-date, CEPI posted a total return of 9.28%. The fund was down 22% at the bottom of the April bear market, so it has recovered nicely. From the April 8 bottom, CEPI has returned 39.1% to investors.
The YieldMax Crypto Industry & Tech Portfolio Option Income ETF (LFGY) came to the market on January 13, 2025, so it is now six months old. The YieldMax website shows a current distribution yield of 62.15%.
Here are the top holdings for LFGY:
| SecurityName | CUSIP | Shares | MarketValue | Weightings |
|---|---|---|---|---|
| Bitdeer Technologies Group | G11448100 | 413644 | 5687605 | 3.07% |
| BTDR US 07/18/25 C13.5 | BTDR 250718C00013500 | -3883 | -97075.02 | -0.05% |
| BTDR US 07/18/25 C15.5 | BTDR 250718C00015500 | 3883 | 58245.02 | 0.03% |
| BTDR US 07/25/25 C15 | BTDR 250725C00015000 | -184 | -6440 | 0.00% |
| Cleanspark Inc | 18452B209 | 679790 | 8823674.2 | 4.77% |
| CLSK US 07/25/25 C13.5 | CLSK 250725C00013500 | -6684 | -260676 | -0.14% |
| CLEANSPA CLL OPT 07/25 16 | CLSK 250725C00016000 | 6345 | 47587.5 | 0.03% |
| Coinbase Global Inc | 19260Q107 | 74202 | 30478471.5 | 16.46% |
| COIN US 07/18/25 C400 | COIN 250718C00400000 | -679 | -874212.5 | -0.47% |
| COIN US 07/18/25 C435 | COIN 250718C00435000 | 679 | 40740 | 0.02% |
| COIN US 07/25/25 C425 | COIN 250725C00425000 | -50 | -42375 | -0.02% |
| COIN US 07/25/25 C470 | COIN 250725C00470000 | 50 | 9850 | 0.01% |
| Core Scientific Inc | 21874A106 | 697781 | 9399110.07 | 5.08% |
| CORZ US 07/18/25 C14.5 | CORZ 250718C00014500 | -311 | -777.5 | 0.00% |
| CORE SCI CLL OPT 07/25 14.500 | CORZ 250725C00014500 | -6550 | -163750 | -0.09% |
| CORE SCI CLL OPT 07/25 16 | CORZ 250725C00016000 | 6550 | 52400 | 0.03% |
| Circle Internet Group Inc | 172573107 | 28601 | 6723523.08 | 3.63% |
| CRCL US 07/18/25 C222.5 | CRCL 250718C00222500 | -274 | -382230 | -0.21% |
| CRCL US 07/25/25 C252.5 | CRCL 250725C00252500 | -7 | -6440 | 0.00% |
| CRCL US 07/25/25 C290 | CRCL 250725C00290000 | 7 | 2695 | 0.00% |
| First American Government Obligations Fund 12/01/2031 | 31846V336 | 730989.13 | 730989.13 | 0.39% |
| Galaxy Digital Inc | 36317J209 | 126436 | 3292393.44 | 1.78% |
| GLXY US 07/25/25 C25.5 | GLXY 250725C00025500 | -1243 | -223740 | -0.12% |
| GLXY US 07/25/25 C27.5 | GLXY 250725C00027500 | 1201 | 132110 | 0.07% |
| GameStop Corp | 36467W109 | 216575 | 5067855 | 2.74% |
| GME US 07/18/25 C23.5 | GME 250718C00023500 | -2105 | -42100 | -0.02% |
| GME US 07/18/25 C26 | GME 250718C00026000 | 2105 | 5262.5 | 0.00% |
| GAMESTOP CLL OPT 07/25 24 | GME 250725C00024000 | -24 | -912 | 0.00% |
| GAMESTOP CLL OPT 07/25 25.500 | GME 250725C00025500 | 24 | 336 | 0.00% |
| Robinhood Markets Inc | 770700102 | 123049 | 12975517.05 | 7.01% |
| HOOD US 07/18/25 C107 | HOOD 250718C00107000 | -1196 | -70564 | -0.04% |
| ROBINHOO CLL OPT 08/25 117 | HOOD 250801C00117000 | -14 | -4760 | 0.00% |
| HUT 8 CORP | 44812J104 | 441463 | 9765161.56 | 5.27% |
| HUT US 07/18/25 C22 | HUT 250718C00022000 | -251 | -13052 | -0.01% |
| HUT US 07/18/25 C23 | HUT 250718C00023000 | -4041 | -68697 | -0.04% |
| HUT US 07/18/25 C25 | HUT 250718C00025000 | 4292 | 10730 | 0.01% |
| HUT 8 CO CLL OPT 07/25 23.500 | HUT 250725C00023500 | -49 | -2768.5 | 0.00% |
| HUT 8 CO CLL OPT 07/25 26 | HUT 250725C00026000 | 49 | 1102.5 | 0.00% |
| iShares Bitcoin Trust ETF | 46438F101 | 247447 | 16739789.55 | 9.04% |
| MARA Holdings Inc | 565788106 | 773448 | 15445756.56 | 8.34% |
| MARA US 07/18/25 C21 | MARA 250718C00021000 | -7519 | -48873.5 | -0.03% |
| MARA US 07/18/25 C23 | MARA 250718C00023000 | 7519 | 11278.5 | 0.01% |
| MARA HOL CLL OPT 07/25 21 | MARA 250725C00021000 | -86 | -4386 | 0.00% |
| MARA HOL CLL OPT 07/25 23 | MARA 250725C00023000 | 86 | 1806 | 0.00% |
| MBTX US 08/15/25 C295 | MBTX 250815C00295000 | -570 | -438900 | -0.24% |
| MBTX US 08/15/25 C320 | MBTX 250815C00320000 | 570 | 313500 | 0.17% |
| MBTXW US 12/31/25 P150 | MBTXW 251231P00150000 | -2736 | -1504800.01 | -0.81% |
| MBTXW US 12/31/25 P230 | MBTXW 251231P00230000 | 2736 | 3173760 | 1.71% |
| MercadoLibre Inc | 58733R102 | 2735 | 6430367.9 | 3.47% |
| MELI US 07/25/25 C2470 | MELI 250725C02470000 | -26 | -18200 | -0.01% |
| MELI US 07/25/25 C2545 | MELI 250725C02545000 | 26 | 6110 | 0.00% |
| MicroStrategy Inc | 594972408 | 43953 | 19837747.02 | 10.71% |
| MSTR US 07/18/25 C450 | MSTR 250718C00450000 | -197 | -117707.5 | -0.06% |
| MSTR US 07/18/25 C460 | MSTR 250718C00460000 | -230 | -52555 | -0.03% |
| MSTR US 07/18/25 C480 | MSTR 250718C00480000 | 192 | 4896 | 0.00% |
| MICROSTR CLL OPT 07/25 475 | MSTR 250725C00475000 | -5 | -2150 | 0.00% |
| NU Holdings Ltd/Cayman Islands | G6683N103 | 481623 | 6737905.77 | 3.64% |
| NU US 07/18/25 C14 | NU 250718C00014000 | -170 | -1955 | 0.00% |
| NU US 07/25/25 C14 | NU 250725C00014000 | -4566 | -134697 | -0.07% |
| NU US 07/25/25 C14.5 | NU 250725C00014500 | 4566 | 52509 | 0.03% |
| NVIDIA Corp | 67066G104 | 29434 | 5092082 | 2.75% |
| NVDA US 07/25/25 C175 | NVDA 250725C00175000 | -289 | -69071 | -0.04% |
| NVDA US 07/25/25 C185 | NVDA 250725C00185000 | 289 | 8814.5 | 0.00% |
| Opera Ltd | 68373M107 | 344305 | 6287009.3 | 3.40% |
| OPRA US 08/15/25 C20 | OPRA 250815C00020000 | -3385 | -59237.52 | -0.03% |
| PayPal Holdings Inc | 70450Y103 | 60534 | 4471041.24 | 2.41% |
| PYPL US 07/25/25 C73 | PYPL 250725C00073000 | -595 | -104125 | -0.06% |
| PYPL US 07/25/25 C76 | PYPL 250725C00076000 | 595 | 27072.5 | 0.01% |
| Riot Platforms Inc | 767292105 | 733604 | 9778941.32 | 5.28% |
| RIOT US 07/18/25 C13 | RIOT 250718C00013000 | -6682 | -280644 | -0.15% |
| RIOT US 07/18/25 C14 | RIOT 250718C00014000 | 6682 | 36751 | 0.02% |
| RIOT PLA CLL OPT 07/25 14 | RIOT 250725C00014000 | -531 | -18319.5 | -0.01% |
| RIOT PLA CLL OPT 07/25 16 | RIOT 250725C00016000 | 531 | 4513.5 | 0.00% |
| Block Inc | 852234103 | 58391 | 4129995.43 | 2.23% |
| XYZ US 07/18/25 C71 | XYZ 250718C00071000 | -567 | -30051 | -0.02% |
| BLOCK I CLL OPT 07/25 74 | XYZ 250725C00074000 | -7 | -549.5 | 0.00% |
| Cash & Other | Cash&Other | -1689189.25 | -1689189.25 | -0.91% |
I see six stocks that are in the top ten for both funds. CEPI has a greater focus on chipmakers.
Since its launch, LFGY has returned 6.75%. From the April 8 bear market bottom, the fund rewarded investors with a 52.98% total return.
Both funds have performed exceptionally well since emerging from the spring bear market. (For comparison, the S&P 500 gained 29%.) Still, in this cage match, LFGY is the clear winner.
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Disclaimer: The information contained in this article is neither an offer nor a recommendation to buy or sell any security, options on equities, or cryptocurrency. Investors Alley Corp. and its ...
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