BlackRock Files Bitcoin Premium Income ETF Amendment with SEC

BlackRock submitted an amended filing to the U.S. Securities and Exchange Commission on the 9th (local time) for its Bitcoin Premium Income ETF under the ticker BITA (iShares Bitcoin Premium Income ETF). The world's largest asset manager structured the product to combine bitcoin price exposure with option premium income by selling call options on its spot bitcoin ETF IBIT (iShares Bitcoin Trust). Bloomberg Intelligence analyst Eric Balchunas stated on X that the product faces pressure to launch ahead of Goldman Sachs' similar product effective July 1.

BlackRock Files BITA ETF with 0.65% Fee on Nasdaq

The amended filing specifies that BITA will list on Nasdaq with an annual fee of 0.65%. The product targets dual income streams by holding bitcoin directly while simultaneously selling call options on IBIT to generate premium income with dividend-like characteristics. This structure allows investors to capture both bitcoin price movements and option premium returns.

Coinbase Custody and Anchorage Digital Appointed as Crypto Custodians

BlackRock designated Coinbase Custody and Anchorage Digital as custodians for the cryptocurrency holdings in BITA. BNY Mellon will serve as custodian for cash and securities components of the fund. The filing details these custodial arrangements as part of the product's operational infrastructure.

Analyst Predicts Launch Before Goldman Sachs July 1 Product

Eric Balchunas of Bloomberg Intelligence wrote on X that "this product will launch soon." He added that BITA "is under pressure to beat Goldman Sachs' similar product that goes live July 1, and now the real competition begins." The statement references a competing bitcoin premium income product from Goldman Sachs scheduled to become effective on July 1.

FAQ

What did BlackRock file with the SEC on the 9th?

BlackRock submitted an amended filing for its Bitcoin Premium Income ETF (ticker BITA) to the U.S. Securities and Exchange Commission on the 9th (local time). The product will list on Nasdaq with a 0.65% annual fee and combines bitcoin holdings with call option premium income from IBIT.

Who are the custodians for BlackRock's BITA ETF?

Coinbase Custody and Anchorage Digital will serve as custodians for cryptocurrency assets in BITA, while BNY Mellon will custody cash and securities components of the fund.

When does Goldman Sachs' competing product become effective?

Goldman Sachs' similar bitcoin premium income product is scheduled to become effective on July 1, according to Bloomberg Intelligence analyst Eric Balchunas, who stated that BlackRock faces pressure to launch BITA before that date.