The new product will operate as a 40 Act fund and marks the third Bitcoin ETF filing by BlackRock, which currently only offers Bitcoin and Ethereum products. The strategy is not unique to the firm, as defined-outcome or buffered Bitcoin ETFs are already available from other providers, including Calamos, First Trust and Innovator.
Tuesday, October 20, 2026
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BlackRock Files for 3rd Bitcoin ETF for Downside Protection
Crypto1 day ago
A new cryptocurrency fund submitted to the SEC on Monday uses a hedging strategy to limit potential losses for Bitcoin holders. The iShares Bitcoin Managed Protection ETF, which will trade under the ticker $PBIT, provides a buffer against price drops by writing and buying options around the iShares Bitcoin Trust ETF (IBIT). In its filing, BlackRock stated that while the fund seeks to provide exposure to Bitcoin up to a specific limit, investors trade a portion of the asset's potential upside to secure the downside protection.
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