BlackRock is expanding its Bitcoin exchange-traded funds (ETFs) offering.
World’s largest investment manager, iShares Asset Management Inc. has submitted an S-1 Registration Statement to the U.S. Securities and Exchange Commission for its new ETF “iShares Bitcoin premium income”.
The assets of the new product, if approved, will be mainly BTC shares, BlackRock’s flagship Bitcoin ETF IBIT and cash.
According to the filing, however, the ETF will also have an active component.
BlackRock explains itself
The Trust seeks “to reflect the general performance of Bitcoin’s price while providing premium earnings through an active managed strategy that involves writing (selling), call options on IBIT share and from time-to-time, indices which track Bitcoin spot exchange traded products including IBIT.
Asset management company Coinbase Custody Trust Company will be the custodian of Bitcoin for its new ETF, while Anchorage Digital Bank is available as a backup custodian. BNY will administer the trust, and keep its securities and cash.
BlackRock offers in addition to IBIT the iShares Ethereum Trust, which tracks ETH’s price, and the iShares Blockchain and Tech ETF, which tracks investment results from an index of companies involved with blockchain and crypto technology.
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As new information becomes available, this post Financial Giant BlackRock files with SEC for a New Bitcoin “Premium income” ETF could be updated.
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