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.