Crypto
BlackRock files for managed-protection bitcoin ETF to limit downside and cap upside
BlackRock has filed with the U.S. Securities and Exchange Commission to register the iShares Bitcoin Managed Protection ETF, ticker PBIT, designed to reduce losses when bitcoin falls while limiting some upside. The fund is based on price moves in BlackRock’s spot bitcoin ETF, iShares Bitcoin Trust (IBIT), but does not directly hold bitcoin or bitcoin ETPs. It would combine options positions with short-term bonds, with initial loss buffering generally shown as about 10 percent but not fixed.
