BlackRock files for third Bitcoin ETF with downside protection
Briefing by News4U · First published
BlackRock filed for the iShares Bitcoin Managed Protection ETF, which would use options on its existing IBIT fund to limit losses while capping gains.
BlackRock filed a preliminary prospectus with the SEC on Monday for the iShares Bitcoin Managed Protection ETF (PBIT), its third Bitcoin ETF filing. The proposed fund would use options linked to its iShares Bitcoin Trust ETF (IBIT) rather than holding Bitcoin directly, seeking to limit downside while capping upside. [1] [2]
IBIT, the world’s largest spot Bitcoin ETF, held $65.7 billion in net assets as of Monday. BlackRock also runs two Ether ETFs and has not launched spot ETFs for other cryptocurrencies such as Solana or XRP. [1] [2]
Sources
- BlackRock files for third Bitcoin ETF, still no Solana or XRP
Cointelegraph · · Full text
- BlackRock seeks to shield bitcoin investors from losses after rival fund weathers 50% crash
CoinDesk · · Full text