BlackRock races Bitcoin income ETF toward potential launch
BlackRock has moved its proposed Bitcoin income-focused exchange-traded fund closer to market debut after filing a key registration document with the U.S. Securities and Exchange Commission.
Summary
- BlackRock filed a Form 8-A with the SEC, moving its Bitcoin Premium Income ETF one step closer to a Nasdaq launch.
- Bloomberg ETF analyst Eric Balchunas said the filing could signal that the BITA fund may begin trading as early as next week.
- The ETF plans to generate income by selling call options tied to BlackRock’s spot Bitcoin ETF, IBIT, while maintaining Bitcoin-linked exposure.
According to a Form 8-A submitted to the SEC on June 11, BlackRock’s iShares Bitcoin Premium Income ETF has been registered for listing on the Nasdaq Stock Market. The filing covers the registration of the trust’s shares under Section 12(b) of the Securities Exchange Act and follows a series of recent amendments tied to the product.
Soon after the filing became public, Bloomberg Senior ETF Analyst Eric Balchunas said on X that BlackRock had filed an 8-A for the Bitcoin Premium Income ETF under the ticker BITA.
“That typically means launch in one week. So if I had to bet I’d say next Thur $BITA goes live. We’ll see tho.”
The latest registration arrived only days after BlackRock updated the fund’s S-1 filing with the SEC. In that amended prospectus, the asset manager confirmed plans to list the product on Nasdaq under the symbol BITA.
Unlike spot Bitcoin ETFs that primarily track the price of Bitcoin, the proposed fund is designed to combine Bitcoin-linked exposure with income generation.
According to the prospectus, the trust intends to sell call options to collect option premiums while maintaining exposure through holdings tied to BlackRock’s iShares Bitcoin Trust (IBIT) and related spot Bitcoin benchmarks.
Fund structure centers on options income
Details contained in the amended registration statement show that the sponsor fee has been set at 0.65%. According to the filing, the fee will be paid from proceeds generated through the sale of IBIT shares, while certain fee waivers may apply under specific circumstances.
Fund disclosures also provide an early look at the trust’s holdings and capital structure. As of the most recent filing, net assets stood at approximately $9.99 million, representing about $49.97 per share.
According to the registration documents, BlackRock Financial Management provided roughly $9.9 million in seed capital through the purchase of 198,000 shares at $50 each.
Additional disclosures identified Jane Street Capital and Virtu Financial Singapore as Bitcoin trading counterparties for the trust. The filing further stated that, following the capital raise, the fund acquired 109.9630217 BTC and 90,901 shares of IBIT while writing 856 option contracts as part of its initial strategy.
Competition in the Bitcoin income ETF segment has also started to build. As previously reported by crypto.news, Goldman Sachs filed for its own Bitcoin Premium Income ETF in April, setting up a potential rivalry between two of the largest names in asset management.
BlackRock expands thematic ETF lineup
The Bitcoin income product is the latest addition to BlackRock’s growing ETF roster. Earlier this week, the firm launched the iShares Space Technologies UCITS ETF for investors in the United Kingdom and Europe.
BlackRock said the fund trades under the ticker STAR and tracks the STOXX Global Space Satellites and Drones Index. According to the company, eligible firms must generate at least 25% of their revenue from space, satellite, or drone-related activities.
A notable feature of the STAR ETF is a fast-entry rule that allows qualifying newly listed companies to join the index within 10 to 30 days of their market debut.
BlackRock said the mechanism was designed to capture developments in rapidly evolving industries, including growing investor attention around potential space-sector listings such as SpaceX.
