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BlackRock files amended bitcoin ETF with yield strategy

Created at 11 Jun · 5:55 AM5 sources↑ Market-relevant2 events
IN SHORT

BlackRock has filed a Form 8-A for its iShares Bitcoin Premium Income ETF, signaling an imminent launch. The ETF combines spot bitcoin exposure with a yield-generating strategy, featuring a 0.65% sponsor fee.

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Key Numbers

0.65%iShares Bitcoin Premium Income ETF sponsor fee
0.95%YBTC ETF fee
0.99%BTCI ETF fee
$47.21 billionBlackRock's IBIT net assets
$14 trillionBlackRock assets under management

Who's Involved

BlackRock
World's largest asset manager filing for a new bitcoin ETF
Eric Balchunas
Bloomberg Senior ETF Analyst predicting ETF launch
Securities and Exchange Commission
U.S. regulator where the ETF amendment was filed
Nasdaq
Exchange where the ETF is expected to list
BlackRock files amended bitcoin ETF with yield strategy

↳ Why This Matters

The filing of the 8-A form by BlackRock suggests the imminent launch of a new bitcoin ETF product that combines spot exposure with a yield-generating strategy, potentially attracting new investor interest in the cryptocurrency market.

Key facts

  • BlackRock filed an 8-A form for its iShares Bitcoin Premium Income ETF.
  • The ETF will offer spot bitcoin exposure and generate yield by selling call options on BlackRock's own IBIT ETF.
  • The fund's sponsor fee is set at 0.65%.
  • The ETF is expected to list on Nasdaq under the ticker BITA.
  • Bloomberg analyst Eric Balchunas anticipates a launch within the next week.

BlackRock, the world's largest asset manager overseeing $14 trillion, has filed a Form 8-A for its iShares Bitcoin Premium Income ETF, a move that typically signals an imminent launch within a week, according to Bloomberg analyst Eric Balchunas. This filing follows a fourth amendment to the ETF's registration statement with the Securities and Exchange Commission. The proposed ETF aims to provide investors with steady income by combining direct exposure to bitcoin's price movements with an actively managed strategy of selling call options, primarily on its own iShares Bitcoin ETF (IBIT) shares. The fund's sponsor fee is set at 0.65%, undercutting the fees of existing covered call bitcoin ETFs like YBTC (0.95%) and BTCI (0.99%). BlackRock's existing iShares Bitcoin ETF (IBIT) is currently the largest spot bitcoin fund, holding approximately $47.21 billion in net assets. The new ETF is expected to trade on Nasdaq under the ticker BITA.

Frequently asked questions

It is a proposed exchange-traded fund by BlackRock that aims to provide investors with exposure to bitcoin's price performance while generating income through selling call options.

The proposed sponsor fee for the iShares Bitcoin Premium Income ETF is 0.65%.

Bloomberg analyst Eric Balchunas anticipates a launch very soon, potentially within the next week, following the filing of the 8-A form.

The ETF is expected to trade on Nasdaq under the ticker symbol BITA.

What Happens Next

01The iShares Bitcoin Premium Income ETF is expected to launch on Nasdaq.
02The ETF will begin trading under the ticker BITA.

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Cadence

How It Developed

BlackRock filed a fourth amendment for its bitcoin ETF with a 0.65% fee.
BlackRock's iShares Bitcoin Premium Income ETF nears launch with a 0.65% fee.
BlackRock filed a Form 8-A for its iShares Bitcoin Premium Income ETF.
Bloomberg Analyst Eric Balchunas expects the ETF to launch within one week.

Sources

T1
BlackRock's income-paying bitcoin ETF nears launch at a fee that undercuts rivalsCoinDesk
T1
BlackRock files new amendment for yield-generating bitcoin ETF; launch expected soon, Bloomberg analyst saysThe Block
T1
BlackRock files 8-A for yield-bearing bitcoin ETF; analyst expects launch next weekThe Block
T1
NEW: @BlackRock has filed its latest amendment for a Bitcoin covered call ETF $BITA, targeting a 0.65% fee, below the two largest covered call ETFs on the market. https://t.co/S7g46jMPTl@CoinDesk via PiQSuite
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JUST IN: $14 trillion BlackRock files 8-A form for its Bitcoin Premium Income ETF, which "typically means launch in one week", according to Bloomberg's Eric Balchunas 👀 https://t.co/tqlEbA5eZr@BitcoinMagazine via PiQSuite

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