BlackRock Files Fourth Amendment With SEC for Bitcoin Covered-Call ETF

BlackRock has filed additional paperwork to launch an income-focused Bitcoin exchange-traded fund.

The Block reported on June 11 that BlackRock submitted a revised registration statement to the U.S. Securities and Exchange Commission on June 9 for the iShares Bitcoin Premium Income ETF. The filing was the fourth amendment, and the fund's annual expense ratio was set at 0.65%.

The ETF is structured around IBIT, BlackRock's spot-Bitcoin ETF. It is designed to track Bitcoin's price moves while generating additional income through a covered-call strategy that sells call options on IBIT shares and exchange-traded product indexes.

The fund is set to list on Nasdaq under the ticker BITA. Eric Balchunas, a Bloomberg ETF analyst, wrote that the launch appears imminent. He added that Goldman Sachs is also preparing a similar product, suggesting competition to gain an early foothold in the market has begun.