Bitcoin ETFs Draw About $1 Billion in Strongest Week Since April

Bitcoin (BTC) exchange-traded funds drew about $1 billion in inflows over a recent week, their strongest weekly total since April. The Oct. 19 filing was for BlackRock’s proposed iShares Bitcoin Managed Protection ETF (PBIT), a previously covered proposal. The iShares Bitcoin Managed Protection ETF (PBIT) would use options tied to BlackRock’s iShares Bitcoin Trust ETF (IBIT). Its proposed structure aims to cushion losses while limiting gains. It would generally spread positions across three overlapping tranches and hold cash and fixed-income investments, rather than holding Bitcoin or Bitcoin exchange-traded products directly. The prospectus draft does not specify a management fee.

Also reported by Coinotag.

Source: TokenPost