BlackRock files 8-A for BITA after expanding bitcoin income ETF details
Recent SEC filings show BITA would charge a 0.65% fee, had $9.99 million in net assets and uses a covered-call strategy tied to IBIT; Bloomberg's Eric Balchunas said trading could begin next Thursday.
BlackRock has taken another late-stage regulatory step for its proposed iShares Bitcoin Premium Income ETF, BITA, by filing an 8-A with the U.S. Securities and Exchange Commission after previously amending the fund's registration to add operating details. The earlier amendment disclosed a 0.65% management fee, $9.99 million in net assets and a covered-call strategy linked to IBIT, BlackRock's spot bitcoin ETF. Bloomberg ETF analyst Eric Balchunas said the 8-A filing typically signals a launch within a week and said he expects BITA to begin trading next Thursday, ahead of a similar Goldman Sachs product expected to be effective around July 1.
- 8-A form: An SEC filing used to register a security, often appearing shortly before an exchange-traded product begins trading.
- covered-call strategy: An options strategy that generates income by selling call options, usually in exchange for limiting some upside.
- bitcoin income ETF: An exchange-traded fund designed to provide bitcoin-linked exposure while seeking additional income, often through options.