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BlackRock Launches BITA Bitcoin ETF, Trades Gains for Mid-to-High-Teens Yield

GateNews
StocksCapital Flow
BTC-0.61%

BlackRock announced on Tuesday the debut of the iShares Bitcoin Premium Income ETF (BITA), which trades on Nasdaq and limits Bitcoin upside in exchange for monthly income distributions. The fund holds a mix of actual Bitcoin and BlackRock's iShares Bitcoin Trust (IBIT), then sells call options on up to 35% of its portfolio to generate monthly option premiums for investor payouts.

According to BlackRock's head of digital assets Robert Mitchnick, BITA would offer "a mid-to-high-teens yield" while retaining "70% upside retention" under current market conditions. The product competes with the NEOS Bitcoin High Income ETF (launched 2024) and follows Goldman Sachs' April filing for a similar yield-generating Bitcoin product.

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