ME News reports that on June 10 (UTC+8), Bloomberg ETF analyst Eric Balchunas revealed that BlackRock has filed its fourth—and possibly final—S-1 amendment for its new product, the iShares Bitcoin Premium Income ETF (BITA), disclosing for the first time a management fee of 0.65% (65 bps). Balchunas noted that this fee is higher than spot Bitcoin ETFs such as the iShares Bitcoin Trust (IBIT), but lower than the two largest covered call ETFs currently available, which charge 0.95% and 0.99% respectively. BITA is expected to employ a yield-enhancement strategy by holding Bitcoin exposure while selling call options. Balchunas anticipates that BITA will receive approval and launch soon, as BlackRock currently competes with Goldman Sachs to be the first to bring a Bitcoin income-focused ETF to market. Goldman’s related product is expected to be effective around July 1, marking the official start of the race. (Source: PANews)
BlackRock's BITA ETF Discloses a 0.65% Fee, Expected to Launch Soon
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Summary
Bitcoin ETF news: On June 10 (UTC+8), BlackRock filed its fourth and likely final S-1 amendment for its iShares Bitcoin Premium Income ETF (BITA), disclosing a 0.65% management fee. The fee is higher than IBIT’s but lower than those of the top two covered call ETFs. BITA aims to enhance yields by holding Bitcoin and selling call options. ETF news: Bloomberg’s Eric Balchunas anticipates swift approval, with BlackRock competing against Goldman Sachs to launch a Bitcoin yield ETF. Goldman’s product is expected to launch around July 1.
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