WisdomTree Launches First Onchain Options Income Fund: EPXC Tokenizes Cash-Secured Put Strategy

Global asset manager WisdomTree has taken a major step toward bridging traditional options income strategies with blockchain infrastructure by launching the WisdomTree Equity Premium Income Digital Fund (ticker: WTPIX / token: EPXC), the first fully tokenized fund that brings a systematic cash-secured put-writing strategy onchain.

Announced December 5, 2025, the fund replicates the performance of the Volos US Large Cap Target 2.5% PutWrite Index, which generates monthly income by selling cash-secured put options on the SPDR S&P 500 ETF Trust (SPY) instead of directly on the S&P 500 index. The entire fund is issued as an ERC-20 token on Ethereum, allowing investors to gain exposure to a classic covered-call-style income strategy with the added benefits of onchain transparency, instant settlement, and programmable ownership.

How the EPXC Tokenized Fund Works

• Strategy: Systematically sells short-term, out-of-the-money cash-secured puts on SPY each month, targeting an annualized yield of ~2.5% above the S&P 500 dividend yield.
• Tokenization: Shares of the traditional fund (WTPIX) are represented 1:1 by the EPXC token on Ethereum, enabling 24/7 trading, fractional ownership, and seamless integration into DeFi protocols.
• Underlying Mechanics: The fund holds SPY shares as collateral and receives option premiums in USD, which are distributed monthly to token holders.
• Management Fee: 0.74% (same as the non-tokenized version), with no additional blockchain-related fees.

Key Features of EPXC

Why This Matters

WisdomTree’s move represents one of the clearest examples yet of a major asset manager bringing an established, income-generating options strategy directly onto public blockchain rails without compromising regulatory compliance. The fund remains a 1940-Act registered product, meaning it is available in standard brokerage accounts while the EPXC token version unlocks blockchain-native use cases such as:

• Using EPXC as collateral on Aave or Compound
• Earning additional yield by lending tokens on decentralized platforms
• Instant portfolio rebalancing and programmable automation

Market Context

The launch comes as tokenized real-world assets (RWAs) surpassed $16 billion in total value locked in 2025, with BlackRock, Franklin Templeton, and now WisdomTree all pushing institutional-grade strategies onchain. Analysts expect tokenized income funds to become a multi-hundred-billion-dollar category by 2027.

Bottom Line

With EPXC, WisdomTree has effectively created the first mainstream “yield-bearing token” backed by a proven options income strategy, blending decades of traditional finance expertise with the speed, transparency, and composability of blockchain.

For investors seeking monthly income from a rules-based S&P 500 options strategy — now with the added flexibility of onchain finance — the future just went live.