BlackRock launches Bitcoin ETF with options strategy on Nasdaq.
Asset manager BlackRock has launched the iShares Bitcoin Premium Income ETF (BITA) on Nasdaq. The Bitcoin ETF combines exposure to the spot price of the cryptocurrency with active covered call options selling.
BITA mirrors the performance of spot Bitcoin while generating premium income. The product is described as a “monthly income tool that captures a significant portion of Bitcoin’s growth with potentially lower volatility.”
To implement its strategy, the fund directly holds Bitcoin and shares of BlackRock’s spot ETF, IBIT. Income is generated through active selling of call options, primarily on IBIT shares and occasionally on Bitcoin ETP indices. The target for covered calls is about 25–35% of the portfolio’s assets.
BITA’s management fee is 0.65%. The CME CF Bitcoin Reference Rate is used as a benchmark. Coinbase and BNY Mellon serve as custodians.
As of June 15, the fund’s net assets totaled $10,649,844, with a NAV per share of $53.25. There are 200,000 shares outstanding. Performance data is currently unavailable.
BlackRock outlined four basic scenarios for BITA relative to IBIT. In the event of a Bitcoin price decline, option income may partially offset losses. In a sideways or moderately rising market, it could enhance results. However, in a sharply rising Bitcoin market, the fund may limit potential gains.
The company warns that selling covered call options on IBIT shares caps profits above the strike price. Meanwhile, BITA remains exposed to declines below this level, and premiums may not cover losses due to Bitcoin or IBIT volatility.
Earlier, in the first quarter of 2026, institutional investors filing 13F forms reduced their positions in U.S. spot Bitcoin ETFs by 17%.
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