YieldMax Short COIN Option Income Strategy ETF
FIAT
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 234 West Florida Street, Suite 203 Milwaukee WI United States of America 53204
- IPO Date
- Jul 11, 2024
- Website
- yieldmaxetfs.com
- Similar Companies
- Business
- YieldMax Short COIN Option Income Strategy ETF (FIAT), issued by Tidal Trust II under the YieldMax brand, is an actively managed exchange-traded fund that seeks current monthly income through a synthetic covered put strategy on Coinbase Global, Inc. (COIN) common stock, while providing indirect short exposure to COIN's share price; the strategy employs long at-the-money put options, short at-the-money call options, sales of COIN put options for income generation, U.S. Treasuries as collateral, and out-of-the-money call options to cap potential losses from significant COIN price gains. FIAT does not invest directly in COIN shares or directly short the stock, targeting inverse unleveraged participation in COIN price declines subject to gain limits, with full exposure to losses up to 100% if COIN appreciates. The fund operates in the financials equity sector, focusing on options-based income strategies for investors seeking yields tied to cryptocurrency exchange volatility, and trades on U.S. exchanges with an expense ratio of approximately 1.00%. Launched on July 9, 2024, FIAT represents YieldMax's expansion into short option income strategies, complementing its broader suite of single-stock and portfolio option income ETFs managed by Tidal Investments LLC with sub-advisory support. In October 2025, YieldMax announced a significant strategic shift across its product suite, transitioning all single-stock option income ETFs, including FIAT, to weekly distributions from prior monthly schedules to enhance investor flexibility and income frequency. Recent distributions, such as the one on July 25, 2025, comprised 93.10% return of capital and 6.90% income, reflecting ongoing adjustments amid COIN's market volatility, with earlier dividend cuts noted in August 2025 and March 2025. Headquartered through Tidal Investments LLC in Milwaukee, Wisconsin, with registered offices in Wilmington, Delaware, YieldMax ETFs target U.S. investors in high-yield, options-driven products without direct equity ownership or dividend entitlements from underlying issuers like COIN. The firm, founded by ETF industry veterans, distributes its funds via Foreside Fund Services, LLC, and uses U.S. Bank for custody and administration, emphasizing concentrated single-issuer risks, derivatives exposure, and liquidity considerations in its non-diversified approach. No major acquisitions, funding rounds, or name changes for FIAT have been reported in the last 1-2 years.