2 days ago
BlackRock, the world’s largest plus manager, is looking to grow its crypto money lineup with a Bitcoin exchange-traded money (ETF) that offers constricted downside extortion successful speech for capped gains.
The world’s largest plus manager connected Monday filed a preliminary prospectus with the US Securities and Exchange Commission for the iShares Bitcoin Managed Protection ETF (PBIT).
The projected ETF would usage options linked to BlackRock’s iShares Bitcoin Trust ETF (IBIT) alternatively than holding Bitcoin (BTC) directly, according to the preliminary prospectus filed with the US Securities and Exchange Commission (SEC).
IBIT is the world’s largest spot Bitcoin ETF by assets. It holds Bitcoin straight and gives investors vulnerability done brokerage accounts. The money had $65.7 cardinal successful nett assets arsenic of Monday, according to BlackRock.
BlackRock besides runs the iShares Ethereum Trust ETF (ETHA), a spot Ether money with $8 cardinal successful nett assets. The plus manager has yet to motorboat US spot ETFs tracking different cryptocurrencies specified arsenic Solana oregon XRP.
ETF Store president Nate Geraci questioned BlackRock’s continued lack from the marketplace for spot ETFs tracking different cryptocurrencies.
“Still shocked they’re sitting retired connected spot ETFs for SOL, XRP, HYPE, etc,” Geraci wrote connected X connected Monday. “BlackRock intelligibly has precocious condemnation successful lone sticking [with] BTC [and] ETH. For now,” helium added.
BlackRock adds ETF strategies alternatively of caller crypto assets
BlackRock entered the US spot Bitcoin ETF market successful January 2024 with the motorboat of IBIT, followed by the ETHA successful July that year.
In March 2026, its offerings expanded with the iShares Staked Ethereum Trust ETF (ETHB), which offers vulnerability to Ether and staking rewards. It was followed by the iShares Bitcoin Premium Income ETF (BITA) successful June, designed to make income done options trading.
BlackRock’s crypto ETF lineup includes 2 Bitcoin funds and 2 Ether funds. Source: BlackRock
Bloomberg ETF expert James Seyffart said that PBIT would people BlackRock’s 3rd Bitcoin ETF filing, though akin “buffered” Bitcoin funds already beryllium from Calamos, First Trust and Innovator.
PBIT would usage 3 overlapping sets of options contracts, typically replacing 1 each month, to question downside extortion portion limiting imaginable gains.
Related: US Bitcoin ETFs gully $527M successful biggest showing since September
Each options tranche would initially people a maximum nonaccomplishment vulnerability of astir 10% to the underlying Bitcoin-linked asset, earlier fees and expenses. BlackRock cautioned that the money “does not supply a fixed Tranche Protection Start Value, Floor oregon Tranche Cap Value,” implying investors could look greater losses.
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