BlackRock has filed a new amendment for a bitcoin ETF designed to generate yield through active covered call strategies applied to shares of its existing IBIT product and ETP indices. Unlike standard spot bitcoin ETFs that simply track price, covered call strategies involve selling call options against held positions to collect premiums, offering investors income at the potential cost of capped upside. Bloomberg analyst Eric Balchunas has indicated a launch could come soon following the filing. The move signals BlackRock's intent to deepen its bitcoin product suite beyond passive exposure, catering to income-focused institutional and retail investors. If approved, the fund would represent one of the first major yield-oriented bitcoin ETF structures in the US market.
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