"Coinbase-Linked ETFs: Bitwise Unveils New Income Strategy"

Bitwise Asset Management has made a significant move in the cryptocurrency space by launching three new ETFs specifically designed to capitalize on the volatility of crypto-linked stocks, including those related to Coinbase. These ETFs aim to provide investors with a consistent monthly income stream.

Bitwise Launches 3 New ETFs to Capitalize on Crypto Volatility for Monthly Income

Bitwise Asset Management has introduced three new exchange-traded funds (ETFs) designed to produce consistent monthly income by taking advantage of the high volatility of crypto-linked stocks. The newly launched ETFs are the Bitwise Coinbase Option Income Strategy ETF (ICOI), Bitwise Marathon Digital Option Income Strategy ETF (IMRA), and Bitwise MicroStrategy Option Income Strategy ETF (IMST). Each fund employs a covered call strategy utilizing Coinbase, Marathon Digital, and MicroStrategy stocks, respectively. These ETFs have a net expense ratio of 0.98%, while ICOI and IMST also have a gross expense ratio of 0.99%, although Bitwise has implemented a fee waiver for these until March 25, 2027.

Illinois to End Lawsuit Against Coinbase Over Staking Program

Illinois will drop its lawsuit against Coinbase regarding the exchange’s staking services, according to a spokesperson for Secretary of State Alexi Giannoulias. The decision makes Illinois the fourth state to abandon litigation over the past month, following Vermont, South Carolina, and Kentucky. The state-level retreats come after the Securities and Exchange Commission’s February decision to drop its federal lawsuit against Coinbase, signaling a broader regulatory shift in crypto oversight. No timeline for the dismissal was provided.