BlackRock files for new bitcoin ETF with covered-call strategy

[BlackRock Headquarters In New York City]
Michael M. Santiago/Getty Images News

BlackRock (BLK [https://seekingalpha.com/symbol/BLK]) has filed with the U.S. Securities and Exchange Commission to launch an exchange-traded fund that offers bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]) exposure while generating income by selling options.

The iShares Bitcoin Trust (IBIT [https://seekingalpha.com/symbol/IBIT]), which BlackRock (BLK [https://seekingalpha.com/symbol/BLK]) launched in early 2024 and now dominates the spot BTC ETF arena, simply tracks the price of bitcoin (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]). By comparison, the proposed iShares Bitcoin Premium Income ETF would also try to generate additional income by selling call options mainly on IBIT, in what's known as a covered-call strategy.

The new fund [https://www.sec.gov/Archives/edgar/data/2089969/000143774926001991/bitp20260121_s1.htm] does not yet have a ticker, and no fee has been defined.

Among the tradable bitcoin-linked (BTC-USD [https://seekingalpha.com/symbol/BTC-USD]) funds that offer similar strategies for options-based income generation are the Roundhill Bitcoin Covered Call Strategy ETF (YBTC [https://seekingalpha.com/symbol/YBTC]), as well as the Amplify Bitcoin Max Income Covered Call ETF (BAGY [https://seekingalpha.com/symbol/BAGY]) and the NEOS Bitcoin High Income ETF (BTCI [https://seekingalpha.com/symbol/BTCI]).

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