BlackRock is poised to launch the iShares Bitcoin Premium Income ETF, trading under the ticker BITA on Nasdaq. The world’s largest asset manager filed its fourth and likely final amendment with the SEC this week, signaling an imminent debut.
The fund generates investor income by selling call options against holdings in BlackRock’s own $47 billion spot bitcoin ETF, IBIT. By writing calls on 25% to 35% of its portfolio monthly, BITA collects premiums distributed as yield. This covered-call strategy provides steady cash flow but caps potential upside during significant market rallies.
BlackRock has set the sponsor fee at 0.65%, aggressively undercutting existing covered-call bitcoin funds YBTC and BTCI, which charge 0.95% and 0.99% respectively. Analysts indicate this pricing advantage is critical as BlackRock races to beat Goldman Sachs’ competing bitcoin income fund, scheduled for a July launch.
The filing confirms BITA is already seeded and actively acquiring assets. This launch reinforces the dominance of BlackRock and Fidelity in the sector, further consolidating the U.S. spot bitcoin ETF market into a two-firm race while positioning digital assets as viable income products for mainstream portfolios.