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BlackRock files for Bitcoin ETF with downside protection
BlackRock has filed a registration statement with the U.S. Securities and Exchange Commission for a new Bitcoin-linked exchange-traded fund (ETF) named the iShares Bitcoin Managed Protection ETF (ticker: PBIT). Unlike traditional spot Bitcoin ETFs, this proposed fund will not hold Bitcoin or Bitcoin-related products directly. Instead, it will utilize options linked to BlackRock’s iShares Bitcoin Trust (IBIT) and other fixed-income securities to manage risk.
The fund’s strategy is designed to provide investors with a degree of downside protection—targeting an initial loss threshold of approximately 10% per tranche—in exchange for capping potential upside gains. The fund will operate using three overlapping monthly tranches of options. BlackRock has noted that this protection is not guaranteed and depends on market conditions.
Separately, BlackRock continues to expand its presence in the digital asset space through tokenization. Its BUIDL tokenized money-market fund has reached approximately $2.3 billion in assets. The firm is also working to integrate tokenized assets into traditional Wall Street infrastructure, including the tokenization of $311 billion in European money market funds using JPMorgan’s Kinexys platform.
While BlackRock advocates for Bitcoin as a diversification tool, JPMorgan has expressed a contrary view, labeling Bitcoin a speculative asset with unstable correlations that may not serve a strategic role in diversified portfolios.
Entities
Bitcoin · BlackRock · JPMorgan · Larry Fink · Ondo Finance · Securitize · U.S. Securities and Exchange Commission · iShares Bitcoin Trust
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 9 SOURCES] BlackRock filed with the SEC for the iShares Bitcoin Managed Protection ETF (PBIT). bitcoinke.io · www.cnbce.com · criptoinforme.com · crypto.news · koinbulteni.com · +4 more
- [● 5 SOURCES] The ETF will cap potential gains in exchange for the downside protection. bitcoinke.io · criptoinforme.com · crypto.news · koinbulteni.com · news.bitcoin.com
- [● 2 SOURCES] JPMorgan views Bitcoin as a speculative asset and advises against its inclusion in diversified portfolios due to unstable correlations. www.criptovaluta.it · www.nouvelles-du-monde.com
- [● 4 SOURCES] The fund aims to provide downside protection by targeting an initial loss threshold of approximately 10% per tranche. criptoinforme.com · crypto.news · www.tokenpost.com · news.bitcoin.com
- [● 3 SOURCES] BlackRock’s BUIDL tokenized money-market fund has grown to approximately $2.3 billion since its 2024 launch. coindoo.com · mycryptoparadise.com · cryptobriefing.com
- [● 2 SOURCES] The registration for the new ETF is expected to take effect approximately 75 days after the October 19 filing. criptoinforme.com · www.tokenpost.com
- [● 5 SOURCES] The fund will use options and fixed-income securities rather than holding Bitcoin or spot ETFs directly. bitcoinke.io · criptoinforme.com · crypto.news · cryptoslate.com · news.bitcoin.com
- [○ 1 SOURCE] BlackRock has tokenized $311 billion in European money market funds using JPMorgan’s Kinexys platform. cryptobriefing.com