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BlackRock has taken another major step toward launching its highly anticipated Bitcoin Premium Income ETF after submitting a key regulatory filing with the U.S. Securities and Exchange Commission (SEC). The latest development has fueled speculation that the new Bitcoin-focused investment product could begin trading as early as next week.
On June 11, BlackRock filed a Form 8-A with the SEC, officially registering the iShares Bitcoin Premium Income ETF for listing on the Nasdaq Stock Market. The filing confirms the proposed registration of the trust’s shares under Section 12(b) of the Securities Exchange Act, a move that is often viewed as one of the final steps before a fund goes live.
Bloomberg Senior ETF Analyst Eric Balchunas highlighted the significance of the filing, noting that a Form 8-A submission typically signals an ETF launch within approximately one week. Based on the timeline, he suggested that the fund, which is expected to trade under the ticker symbol BITA, could debut on Nasdaq soon.
Unlike traditional spot Bitcoin ETFs, the BlackRock Bitcoin Premium Income ETF is designed to provide both Bitcoin exposure and income generation. According to the updated prospectus, the actively managed fund will generate revenue by selling call options tied primarily to BlackRock’s iShares Bitcoin Trust (IBIT) and related Bitcoin benchmarks. This strategy aims to produce option premium income while maintaining exposure to the cryptocurrency market.
The latest filing follows BlackRock’s recent amendment to its S-1 registration statement, which included additional details about the proposed ETF. The sponsor fee has been set at 0.65%, with certain fee waivers potentially available under specific circumstances.
The trust reported net assets of approximately $9.99 million in its most recent filing, representing a net asset value of $49.97 per share. BlackRock Financial Management contributed roughly $9.9 million in seed capital through the purchase of 198,000 shares at $50 each.
The filing also identified Jane Street Capital and Virtu Financial Singapore as Bitcoin trading counterparties. As of June 9, the trust held 109.963 BTC, 90,901 IBIT shares, and had written 856 options contracts using capital raised for the fund.
The launch comes amid growing competition in the crypto ETF market, with Goldman Sachs recently filing for its own Bitcoin Premium Income ETF, setting the stage for increased rivalry among major financial institutions seeking to capitalize on investor demand for Bitcoin investment products.
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