BlackRock’s PBIT Bitcoin ETF Trades Upside for Downside Protection
Photo: ETHNews
BlackRock filed for the iShares Bitcoin Managed Protection ETF (PBIT) on October 19. PBIT would combine IBIT call options with cash and short-term fixed income. Its approximately 10% initial loss threshold applies to individual options tranches, not the entire ETF. Management fees, final upside caps and a trading launch date remain undisclosed. BlackRock wants to give Bitcoin investors a way to reduce exposure to severe price declines without exiting the market. The cost would be giving up part of the cryptocurrency’s potential gains.
Source: ETHNews
