BlackRock Makes Surprise Bitcoin ETF Move

BlackRock is eyeing a new Bitcoin ETF product that it can add to its arsenal. This one is a Bitcoin ETF with some downside protection. The global asset management giant is apparently eyeing creating a Bitcoin ETF with some sort of downside protection. This can be found in the newly released prospectus. The asset management giant is eyeing creating an iShares Bitcoin Managed Protection ETF. It will be called PBIT and seems like an attempt to get some Bitcoin exposure in a more protected manner. According to the filing, the new ETF would seek to offer investors some upside exposure to the BlackRock spot Bitcoin ETF (IBIT) "and/or similar bitcoin exposure" to some degree. But it would be aiming for downside protection.

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