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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, 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 step commonly viewed as among the final prerequisites before an ETF begins trading.
Bloomberg Senior ETF Analyst Eric Balchunas said a Form 8-A submission typically signals an ETF launch within about one week. He suggested the fund, 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 structured to provide both Bitcoin exposure and income generation. In the updated prospectus, the actively managed fund is described as generating revenue by selling call options tied primarily to BlackRock’s iShares Bitcoin Trust (IBIT) and related Bitcoin benchmarks. The strategy is intended to produce option premium income while maintaining exposure to the cryptocurrency market.
The latest filing follows BlackRock’s amendment to its S-1 registration statement, which added further details about the proposed ETF. The sponsor fee is set at 0.65%, with certain fee waivers potentially available under specific circumstances.
In its most recent filing, the trust reported net assets of approximately $9.99 million, corresponding to a net asset value of $49.97 per share. BlackRock Financial Management contributed roughly $9.9 million in seed capital by purchasing 198,000 shares at $50 each.
The filing also listed 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 as competition in the crypto ETF market intensifies. Goldman Sachs recently filed for its own Bitcoin Premium Income ETF, setting the stage for increased rivalry among major financial institutions seeking to capture investor demand for Bitcoin investment products.
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