BlackRock submitted an SEC application for the iShares Bitcoin Managed Protect ETF, which would pair some downside protection with capped upside tied to IBIT or similar Bitcoin exposure, according to BlockBeats.
Proposed structure
The filing describes a degree of downside protection and an approximate cap on gains linked to BlackRock’s flagship IBIT or a similar Bitcoin exposure. The application remains subject to the SEC process.
BlackRock lineup
BlackRock launched IBIT in January 2024. Bloomberg ETF analyst James Seyffart described the filing as the firm’s third Bitcoin ETF application, according to the flash.
Source: BlockBeats flash.