Overview
- BlackRock filed a Form 8‑A and the BITA registration is effective, with Nasdaq and analysts saying the ETF could begin trading as soon as June 16.
- BITA will hold shares of BlackRock’s spot Bitcoin ETF, IBIT, and sell covered call options on those holdings to collect premiums that are paid out as income.
- BlackRock’s filing allows up to about 35% of assets to be used in options writing, which raises regular cash yield but caps gains when Bitcoin rallies sharply.
- The fund charges a 0.65% sponsor fee, roughly 30 basis points below existing covered‑call Bitcoin ETFs, which could pressure rivals on pricing.
- Built on IBIT’s large liquidity base—about $48.6 billion in net assets as of June 12—BITA launches before a Goldman Sachs income ETF expected around July 1, giving BlackRock a near‑term first‑mover edge.