Key Takeaways
- • BlackRock filed with the SEC on Monday for the iShares Bitcoin Managed Protect ETF, a product designed to offer investors downside protection alongside upside exposure to its flagship iShares Bitcoin Trust (IBIT).
- • IBIT holds more than $65 billion in assets under management, making it the largest bitcoin ETF according to The Block's bitcoin ETF tracker.
- • The filing is BlackRock's third bitcoin ETF application, and the firm currently offers only bitcoin and Ethereum products, per Bloomberg Intelligence analyst James Seyffart.
Summary
BlackRock, the world's largest investment manager, has filed with the Securities and Exchange Commission for the iShares Bitcoin Managed Protect ETF, according to The Block. The filing describes a fund that would seek to provide upside exposure to the iShares Bitcoin Trust ETF (IBIT) and/or similar bitcoin exposure up to an approximate limit, while seeking to provide a level of downside protection, as stated by BlackRock in the filing. The product would follow IBIT, which the firm launched in January 2024 and which holds more than $65 billion in assets under management, making it the largest bitcoin ETF of its kind according to The Block's bitcoin ETF tracker.
The filing extends BlackRock's bitcoin product lineup. In June, the firm launched the iShares Bitcoin Premium Income ETF, designed to provide bitcoin exposure while generating monthly option premium income. Bloomberg Intelligence's James Seyffart noted in a post on X that the Monday filing is the third bitcoin ETF application from BlackRock, and that the firm still offers only bitcoin and Ethereum products. Seyffart observed that other issuers have launched ETFs tracking assets such as XRP, SOL and DOGE over the past couple of years.
The Managed Protect filing has not been approved, and the available reporting does not specify fee levels, the precise mechanics of the downside protection, or a target launch timeline.
The filing extends BlackRock's bitcoin product lineup. In June, the firm launched the iShares Bitcoin Premium Income ETF, designed to provide bitcoin exposure while generating monthly option premium income. Bloomberg Intelligence's James Seyffart noted in a post on X that the Monday filing is the third bitcoin ETF application from BlackRock, and that the firm still offers only bitcoin and Ethereum products. Seyffart observed that other issuers have launched ETFs tracking assets such as XRP, SOL and DOGE over the past couple of years.
The Managed Protect filing has not been approved, and the available reporting does not specify fee levels, the precise mechanics of the downside protection, or a target launch timeline.
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