BlackRock files for Bitcoin ETF offering limited downside protection
BTC when published $81,988Now $80,595 ▼ −1.70% since it was published
BlackRock has filed with the U.S. Securities and Exchange Commission to introduce a Bitcoin-linked ETF designed to provide partial protection against falling prices while limiting the gains investors can earn when Bitcoin rises. According to the asset manager’s October 19 filing, the proposed iShares Bitcoin Managed Protection ETF will trade under the ticker PBIT if its registration becomes effective and the fund launches. Its investment strategy will use options linked to BlackRock’s iShares Bitcoin Trust ETF, or IBIT, and similar Bitcoin-related instruments. The fund plans to purchase and sell call options at different prices while holding cash and short-term fixed-income securities. The arrangement is intended to give investors some participation in Bitcoin’s gains while reducing exposure to certain losses.
First reported by crypto.news. This page is a short excerpt; the full text is theirs.
