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BlackRock’s iShares Bitcoin Premium Income ETF (BITA) is set to begin trading on Nasdaq on June 16, after receiving regulatory approval from the U.S. Securities and Exchange Commission and exchange clearance.
Bloomberg ETF analyst Eric Balchunas said Nasdaq confirmed that BITA would launch on Tuesday. The confirmation followed one day after the SEC approved the fund’s notice of effectiveness, clearing the way for public trading.
Balchunas also said the ETF will target a 15%–25% annual yield while aiming to capture at least 70% of bitcoin’s upside.
BlackRock filed for the product on June 12, positioning it as an income-generating alternative for investors seeking exposure to Bitcoin-related returns without directly holding the cryptocurrency.
In its final prospectus, BITA is designed to generate income while maintaining participation in Bitcoin price movements. Instead of purchasing Bitcoin directly, the ETF will primarily invest in shares of BlackRock’s iShares Bitcoin Trust ETF (IBIT), which remains the largest spot Bitcoin ETF by assets under management.
According to details in BlackRock’s filing, BITA will use a covered-call strategy by selling call options linked to its IBIT holdings. The premiums collected from those options are expected to be the primary source of income for shareholders.
The prospectus states that investors will pay a sponsor fee of 0.65% per year. The fee accrues daily and is scheduled to be paid quarterly.
BlackRock also disclosed that investors may indirectly bear other costs associated with options transactions, brokerage commissions, financing expenses, legal services, and fund operations.
BITA’s launch comes as BlackRock continues to add new funds across different investment themes. Last week, the firm introduced the iShares Space Technologies UCITS ETF in the United Kingdom and Europe, trading under the ticker STAR, which tracks the STOXX Global Space Satellites and Drones Index.
BlackRock said companies included in the index must generate at least 25% of their revenue from space, satellite, or drone-related businesses. The firm also introduced a fast-entry mechanism allowing newly listed qualifying companies to enter the benchmark within 10 to 30 days of going public.
Coinbase has launched a High Yield USDC vault within its in-app DeFi lending offering, adding a second lending option that provides exposure to a wider range of collateral assets. The product is powered by Morpho infrastructure and uses vault allocations curated by Steakhouse Financial.
