YieldMax COIN Option Income Strategy ETF
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- YieldMax COIN Option Income Strategy ETF (CONY), issued by Tidal Trust II under the YieldMax ETFs brand, is an actively managed exchange-traded fund that seeks current monthly income through a synthetic covered call strategy on Coinbase Global, Inc. (COIN) common stock, while providing indirect exposure to COIN's share price returns subject to a cap on potential gains; the fund writes short-term call options (typically one month or less, with strikes 0%-15% above COIN's price), purchases and sells standardized and FLEX options to create synthetic long exposure (approximately 100% of COIN via at-the-money calls and puts with one- to six-month terms), and holds short-term U.S. Treasury bills as collateral and for additional income; CONY does not invest directly in COIN shares or entitle shareholders to COIN dividends. The fund, launched on August 14, 2023 and traded on NYSE Arca under ticker CONY, targets investors seeking high-yield income from cryptocurrency-related exposure within the financials sector (capital markets industry), with top holdings including U.S. Treasury Bills (e.g., maturities through 2026 comprising over 85% of assets) alongside COIN options positions; it operates primarily in the U.S. market from headquarters in Milwaukee, Wisconsin, with adviser Tidal Investments LLC (formerly Tidal ETF Services LLC), sub-adviser ZEGA Financial, LLC, distributor Foreside Fund Services, LLC, and custodian U.S. Bank National Association. Recent developments include YieldMax ETFs' announcements of monthly and weekly distributions for CONY as part of Group 2 ETFs (e.g., December 2025 weekly payout alongside CRCO and others), significant assets under management growth to approximately $785 million with 17.96 million shares outstanding as of late 2025, and portfolio expansions such as the June 2025 launch of BRKC (Berkshire Hathaway option income ETF) and November 2025 introduction of the Performance & Distribution Target 25 ETF family (e.g., MSST on MicroStrategy, NVIT on Nvidia) targeting 25% annualized distributions via similar options strategies; these moves reflect YieldMax's ongoing product innovation amid cumulative net inflows exceeding $22 billion across its suite of over 40 single-stock and fund-of-funds ETFs since 2022, without reported acquisitions, funding rounds, or name changes specific to CONY.