VistaShares is making a bid to enter the ETF market with an interesting quartet of funds that blend cryptocurrency themes with income generation, all without actually holding any digital coins.

The firm filed a post-effective amendment with the U.S. Securities and Exchange Commission for four new ETFs that take different approaches to crypto and growth equity exposure. Here's what each one does:

The VistaShares Bitcoin Treasury Income ETF (VBIT) targets current income and long-term capital appreciation by investing in equities that track the VistaShares Bitcoin Treasury Income Index. Rather than buying Bitcoin directly, the fund uses U.S. equities, ADRs, and derivative overlays like options or swaps to generate yield while maintaining Bitcoin-linked exposure.

Following a similar playbook, the VistaShares Ethereum Treasury Income ETF (VETH) aims to deliver income and growth through equities tied to an Ethereum Treasury Income Index. Like VBIT, this fund leans on derivatives strategies to enhance returns without actually holding Ethereum.

The third offering, the VistaShares Ethereum Treasury ETF (ETTH), takes a pure growth approach. This fund tracks an Ethereum-based index for long-term appreciation and provides exposure to companies operating within Ethereum's ecosystem, again without direct cryptocurrency holdings.

Rounding out the lineup is the VistaShares IPO and Income ETF (IPOY), which combines recent IPO equities—companies that went public within the last 24 months—with income-generating derivative strategies. The fund attempts to capture early-stage growth potential while offering a yield component, though investors should note that the IPO focus may bring higher volatility.

Annual expenses for the four ETFs range from 0.95% to 1.05%.

This multi-fund filing reflects a broader trend in the ETF space: blending thematic innovation with structured income strategies. These products appeal to investors who want crypto-linked or high-growth equity exposure without the operational complexity of holding digital assets directly.

While VBIT and VETH offer indirect cryptocurrency plays, ETTH and IPOY provide traditional equity pathways with targeted risk-return profiles. Together, the quartet gives both yield-conscious and growth-oriented investors a diverse set of options to consider.