The Floor Is Lava: BlackRock Joins Protected Bitcoin ETF Party

Volatility-managed bitcoin is just the latest evolution of widening access to cryptocurrencies’ upside, experts said. Those looking for bitcoin without the bust may soon have a new option. BlackRock on Monday filed for a buffered bitcoin fund, the firm’s foray into the world of structured protection for crypto and its third bitcoin fund — the other two being the iShares Bitcoin Trust ETF ( IBIT ) and iShares Bitcoin Premium Income ETF (BITA). The iShares Bitcoin Managed Protection ETF (PBIT) will give investors 10% downside protection in the form of three overlapping options tranches. The move signals the fund manager’s willingness to use options to mitigate risk even for cryptocurrencies, especially given the digital asset’s volatility: Bitcoin is down over 35% from the record price of $126,080 last October.

First reported by The Daily Upside. This page is a short excerpt; the full text is theirs.