BlackRock wants to expand its Bitcoin (BTC) exchange-traded fund (ETF) offerings.
The world’s largest asset manager has filed an S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) for a new “iShares Bitcoin Premium Income” ETF.
If approved, the new product’s assets will consist primarily of BTC, shares of BlackRock’s flagship spot Bitcoin ETF (IBIT) and cash.
However, the new ETF would also include an actively managed component, according to the new filing.
Explains BlackRock,
“The Trust seeks to reflect generally the performance of the price of Bitcoin while providing premium income through an actively managed strategy of writing (selling) call options on IBIT shares and, from time to time, on indices that track spot Bitcoin exchange-traded products, including IBIT.”
The asset management giant says Coinbase Custody Trust Company would serve as the new ETF’s custodian for Bitcoin holdings, with Anchorage Digital Bank available as an alternative custodian. BNY would administer the trust and custody its cash and securities.
In addition to IBIT, BlackRock also offers the iShares Ethereum Trust (ETHA), which tracks the price of ETH, and the iShares Blockchain and Tech ETF (IBLC), which tracks the investment results of an index composed of firms involved in blockchain and crypto technologies.
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