BlackRock submitted a final amendment for its iShares Bitcoin Premium Income ETF. The fund will trade under the ticker BITA and carries a sponsor's fee of 0.65%.
The fund generates income through a covered-call strategy. It primarily sells call options on shares of the existing iShares Bitcoin Trust (IBIT). BITA will hold a combination of spot Bitcoin and IBIT shares.
Bloomberg analyst Eric Balchunas expects the fund to launch imminently. This move signals BlackRock's intent to offer yield-focused products, competing with rivals like Goldman Sachs.