Breaking: BlackRock’s New Filing Signals Bitcoin Premium Income ETF Launch Next Week

Kritika Mehta
Updated
Kritika boasts over 4 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.
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BlackRock IBIT Bitcoin ETF

Highlights

  • BlackRock has field the Form 8-A for its Bitcoin Premium Income ETF.
  • The filing generally suggests launch within a week, experts say.
  • Earlier this week, the asset manager had submitted an amended S-1 filing to the SEC.

BlackRock has taken another step toward introducing its new Bitcoin Premium Income ETF. The asset manager just filed another crucial document with the U.S. Securities and Exchange Commission (SEC).

BlackRock Files Form 8-A For BlackRock Premium Income ETF

According to the Form 8-A filing with the SEC on June 11, BlackRock’s iShares Bitcoin Premium Income ETF is now registered for listing on The Nasdaq Stock Market LLC. The disclsoure reiterated the proposed registration of shares of the trust under Section 12(b) of the Securities Exchange Act Experts believe that this move hints at a launch next week.

Along these lines, Bloomberg Senior ETF Analyst Eric Balchunas wrote on X, “BlackRock filed an 8-A for the Bitcoin Premium Income ETF $BITA. That typically means launch in one week.” He added, “So if I had to bet I’d say next Thur $BITA goes live. We’ll see tho.”

The registration comes on the heels of BlackRock’s recent update to the fund’s S-1 registration statement. In its fourth amended filing with the SEC, the asset manager stated its plans to list a product under the symbol BITA on Nasdaq.

Unlike a conventional spot Bitcoin ETF, the actively managed fund is meant to be used to generate income along with an exposure to Bitcoin. As outlined in the prospectus, the trust will focus on selling call options to generate option premium income. It will be primarily related to BlackRock’s spot Bitcoin ETF, IBIT, or to benchmarks associated with spot BEP.

Recently, Goldman Sachs also filed for a Bitcoin Premium Income ETF as it seems to rival BlackRock in the market.

Overview of Fee & Details On Net Assets

In the revised filing, the sponsor fee is set at 0.65%, a payment that will come from proceeds of the sale of IBIT shares. The document also mentions that in some cases there are fee waivers.

The trust’s net assets as of the last filing were about $9.99 million, which is $49.97 per share. Seed money from BlackRock Financial Management, a provider of investment products, amounted to $9.9 million with 198,000 shares at $50 each.

The filing also named Jane Street Capital and Virtu Financial Singapore as BTC trading counterparties. On June 9, the trust revealed that it purchased 109.9630217 BTC, 90,901 IBIT shares and wrote 856 option contracts with the proceeds from the capital raising.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

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About Author
About Author
Kritika boasts over 4 years of experience in the financial news sector. Currently working as a crypto journalist at Coingape, she has consistently shown a knack for blockchain technology and cryptocurrencies. Kritika combines insightful analysis with a deep understanding of market trends. With a keen interest in technical analysis, she brings a nuanced perspective to her reporting, exploring the intersection of finance, technology, and emerging trends in the crypto space.