News · Institutions & ETFs
The proposed fund would use options on IBIT to cap downside risk near 10% alongside upside limits.
Key point 1 of 3
01
BlackRock filed a preliminary prospectus with the US SEC for the iShares Bitcoin Managed Protection ETF (PBIT).
Key point 2 of 3
02
The fund would hold options tied to BlackRock's spot Bitcoin ETF (IBIT) rather than spot Bitcoin directly.
Key point 3 of 3
03
The strategy uses three overlapping options tranches targeting a 10% maximum loss before fees, alongside capped upside.
Context
BlackRock has favored structured options and staking iterations of Bitcoin and Ether over expanding spot filings to other altcoins.
Why it matters
Brokers and wealth managers seeking lower-volatility crypto allocations gain another institutional buffered ETF structure.
What to watch
SEC feedback or potential effective registration dates for the PBIT prospectus filing.
Sources
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