"BlackRock buys an additional 77 million dollars worth of Bitcoin…preparing a new ETF"

Global asset manager BlackRock(BlackRock) has increased its Bitcoin(BTC) holdings despite a volatile market and is preparing to launch a new ETF.

On the 27th (local time), according to crypto asset (cryptocurrency) specialized media CoinDo, BlackRock reportedly purchased approximately 700BTC, roughly 77 million dollars, through Coinbase Prime.

Recently, BlackRock also filed for a new 'iShares Bitcoin Premium ETF(iShares Bitcoin Premium ETF)'. While BlackRock's Bitcoin spot ETF IBIT was structured to track the spot price, this ETF is characterized by applying a covered-call strategy to strengthen its income-generating function. The industry views this as a follow-up product to IBIT rather than diversification into altcoins.

Meanwhile, a covered call seeks stable returns by buying a stock while selling the right to buy that stock at a specific price (a call option).

For example, you buy an A share priced at 10,000 won and sell the right to buy the same share at 11,000 won. In this case, you must forgo gains when the stock price exceeds 11,000 won, but when the stock price moves below 11,000 won, you can obtain both capital gains and option premiums.