BlackRock Makes a Splash with New Bitcoin ETF Filing as IBIT Takes in US$665M

BlackRock is ramping up its Bitcoin ETF lineup. Following the launch of the iShares Bitcoin Premium Income ETF (BITA), it has now filed with the US Securities and Exchange Commission (SEC) for a fund called iShares Bitcoin Managed Protection ETF (PBIT). PBIT won’t buy Bitcoin directly or hold IBIT, the world’s largest Bitcoin ETF. The idea is to buy and sell options linked to IBIT or similar assets and hold fixed-income investments to provide investors with Bitcoin exposure plus downside protection. However, the downside protection isn’t guaranteed, and investors could still lose their entire investment.

Source: Crypto News Australia