BlackRock Files for Income-Generating Bitcoin ETF as SEC Speeds Approvals
BlackRock, the world's largest asset manager, has filed for a new Bitcoin ETF. The iShares Bitcoin Premium ETF introduces a covered-call strategy to generate yield from Bitcoin, attracting income-oriented investors. This move comes as the U.S. SEC fast-tracks crypto news today.
BlackRock, already the largest institutional custodian of Bitcoin and Ethereum, holds over 756,000 BTC ($85.3B) and 3.8M ETH ($16B). The new ETF, complementing their $87B iShares Bitcoin Trust, offers an income-generating product by selling options on bitcoin holdings. This strategy provides investors with yield, rather than just price exposure.
The U.S. SEC's new regulations enable exchanges to issue crypto news ETFs in as little as 75 days. BlackRock's filing for a second Bitcoin product reflects its focus on Bitcoin and Ethereum, stepping back from broader altcoins. The firm's Ethereum fund saw $512M in new inflows last week, confirming institutional demand for crypto assets. BlackRock's crypto business now generates over $260 million annually.
BlackRock's new ETF aims to attract income-oriented investors, offering additional yield on Bitcoin holdings. The firm continues to explore tokenization, with its BUIDL tokenized money market fund surpassing $2B in assets this year. CEO Larry Fink predicts tokenization as the future, with every financial asset potentially existing on blockchain rails.
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