Covered call ETF specialist YieldMax is set to enter the European market after filing for regulatory approval for a big tech income strategy in Germany, ETF Stream can reveal.

The Yieldmax Big Tech Option Income UCITS ETF has been filed for registration with the German regulator BaFin and will mark the firm's first strategy in a UCITS format.

YieldMax has 23 US-listed ETFs and specialises in covered call strategies.

The upcoming ETFs' most similar US counterpart - the YieldMax Target 12 Big 50 Option Income ETF (BIGY) - is actively managed and aims at a target annual income of 12% alongside potential capital appreciation.

BIGY captures 50 large cap US companies.

Covered call strategy launches have also been gathering pace in Europe in recent years.

High profile launches include JP Morgan Asset Management (JPMAM) debuting a US equity premium income ETF and a Nasdaq equity premium income active ETF in November last year.

JPMAM also unveiled a global exposure - the JPMorgan Global Equity Premium Income Active UCITS ETF (JEPG) - in December 2023.

BlackRock also is also eyeing the options-based income ETF space, with iShares EMEA product head Manuela Sperandeo saying in a recent ETF Interview that the firm would look to enter the European outcome and income ETF segments.

The strategy will mark HANetf's seventh active ETF launch, with the majority of these launches arriving last year as Europe's active ETF market continues to accelerate at speed.