BlackRock files bitcoin income ETF registration as launch nears
BlackRock is moving closer to adding a yield-bearing bitcoin product to the U.S. exchange-traded fund market with a new securities registration step. The filing covers the iShares Bitcoin Premium Income ETF, which is designed to pair spot bitcoin exposure with income generated through options.
Highlights
- BlackRock filed a Form 8-A with the SEC on Thursday for the iShares Bitcoin Premium Income ETF, signaling a potential trading debut within about a week.
- The fund will charge a 0.65% sponsor fee, undercutting fees of competing covered-call bitcoin ETFs and seeking yield by selling call options primarily on IBIT.
- Competition in crypto income products intensifies as BlackRock makes its move and Goldman Sachs prepares to launch a premium income bitcoin ETF around July 1.
Filing points to near-term trading debut
As reported by the Securities and Exchange Commission filing, BlackRock submitted a Form 8-A on Thursday for the iShares Bitcoin Premium Income ETF, a move that typically comes shortly before an exchange-traded product begins trading.Form 8-A is used to register securities under the Securities Exchange Act of 1934. Bloomberg analyst Eric Balchunas says that timeline usually signals a launch within about a week, and he expects the fund to go live next Thursday, though he cautions that the timing is not final.
The filing arrives a few days after BlackRock submitted its fourth amendment for the proposed fund. That amendment set a 0.65% sponsor fee, below the fees charged by competing covered-call bitcoin ETFs.
Crypto ETF competition expands
The proposed product would give investors spot bitcoin exposure while seeking to generate yield by actively selling call options, primarily on IBIT, BlackRock's own spot bitcoin ETF. IBIT is the largest spot bitcoin fund in its category, giving BlackRock an established base for the new strategy.BlackRock's latest step also comes as other large financial firms push deeper into crypto-linked income products. Goldman Sachs is working with the SEC on its own premium income bitcoin ETF, a fund filed in April that Balchunas previously says is expected to launch around July 1.
Our earlier coverage on Interactive Brokers’ commission-free access to more than 500 BlackRock iShares ETFs in the EEA explained how lower costs and recurring investments can boost retail participation and trading activity. The article also noted that the expanded iShares lineup strengthens IBKR’s positioning in Europe and, alongside supportive technical signals, could underpin further momentum as client inflows build.
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