BlackRock, the world’s largest asset manager, is looking to expand its crypto fund lineup with a Bitcoin exchange-traded fund (ETF) that offers limited downside protection in exchange for capped gains.
The world’s largest asset manager on Monday filed a preliminary prospectus with the US Securities and Exchange Commission for the iShares Bitcoin Managed Protection ETF (PBIT).
The proposed ETF would use options linked to BlackRock’s iShares Bitcoin Trust ETF (IBIT) rather than holding Bitcoin (BTC) directly, according to the preliminary prospectus filed with the US Securities and Exchange Commission (SEC).
IBIT is the world’s largest spot Bitcoin ETF by assets. It holds Bitcoin directly and gives investors exposure through brokerage accounts. The fund had $65.7 billion in net assets as of Monday, according to BlackRock.
BlackRock also runs the iShares Ethereum Trust ETF (ETHA), a spot Ether fund with $8 billion in net assets. The…
