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BlackRock Updates Bitcoin ETF Application with Income Feature



BlackRock Updates Bitcoin ETF Application with Income Feature

BlackRock files for Bitcoin ETF with income feature.

BlackRock has submitted a Form 8-A filing with the U.S. Securities and Exchange Commission to register the iShares Bitcoin Premium Income (BITA) ETF, based on the leading cryptocurrency.

The product offers access to the spot bitcoin market with an income-generating mechanism. The fund plans to sell call options primarily on its own IBIT shares, and occasionally on spot bitcoin ETP indices.

Bloomberg analyst Eric Balchunas suggested that BITA could launch as soon as next week.

According to him, filing a Form 8-A usually signals imminent approval of the instrument.

Previously, BlackRock submitted a fourth amendment to its BITA application, stating a sponsor fee of 0.65%, which is lower than competitors among bitcoin ETFs with a covered call strategy.

BlackRock’s traditional IBIT bitcoin fund has maintained a leading position since its launch in January 2024. As of now, the product manages assets worth $48.6 billion.

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IBIT Dynamics. Source: SoSoValue.

Earlier this year, institutional investors filing Form 13F reduced their positions in U.S. spot bitcoin ETFs by 17%.

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