Key Takeaways
- • BlackRock filed a registration statement with the SEC on October 19 for the iShares Bitcoin Managed Protect ETF, a product designed to capture Bitcoin upside up to a set cap while offering partial downside protection.
- • The fund is built on BlackRock's existing spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), which has more than $65 billion in assets under management and is the world's largest spot Bitcoin ETF.
- • The filing is BlackRock's third Bitcoin ETF-related application, according to Bloomberg Intelligence analyst James Seyffart, and the firm still offers only Bitcoin and Ether products.
- • Rival asset managers have recently expanded into XRP, Solana and Dogecoin ETFs, while BlackRock has no funds tied to other cryptocurrencies.
Summary
BlackRock, the world's largest asset manager, is seeking approval to launch a new exchange-traded fund that aims to capture gains from rising Bitcoin prices while limiting downside risk. The Block reported that BlackRock filed a registration statement with the US Securities and Exchange Commission on October 19 for the iShares Bitcoin Managed Protect ETF.
The proposed product is built around IBIT, the firm's spot Bitcoin ETF that launched in January 2024. According to the filing, the fund would seek exposure to upside returns from IBIT or similar Bitcoin investment products up to a set cap, while providing a measure of protection against price declines. The structure trades unlimited upside for partial downside cushioning, a design that has become a recurring theme in BlackRock's expanding Bitcoin lineup.
BlackRock has steadily broadened its Bitcoin offerings. IBIT now holds more than $65 billion in assets under management. In June, the firm also launched the iShares Bitcoin Premium Income ETF, which seeks to generate monthly income through options premiums alongside Bitcoin exposure.
James Seyffart, an analyst at Bloomberg Intelligence, wrote on X that the filing marks BlackRock's third Bitcoin ETF-related application. He noted that the firm still offers only Bitcoin and Ether products and has no funds tied to other cryptocurrencies. That stands in contrast to other asset managers that have recently moved to expand their ETF lineups to include XRP, Solana and Dogecoin.
The proposed product is built around IBIT, the firm's spot Bitcoin ETF that launched in January 2024. According to the filing, the fund would seek exposure to upside returns from IBIT or similar Bitcoin investment products up to a set cap, while providing a measure of protection against price declines. The structure trades unlimited upside for partial downside cushioning, a design that has become a recurring theme in BlackRock's expanding Bitcoin lineup.
BlackRock has steadily broadened its Bitcoin offerings. IBIT now holds more than $65 billion in assets under management. In June, the firm also launched the iShares Bitcoin Premium Income ETF, which seeks to generate monthly income through options premiums alongside Bitcoin exposure.
James Seyffart, an analyst at Bloomberg Intelligence, wrote on X that the filing marks BlackRock's third Bitcoin ETF-related application. He noted that the firm still offers only Bitcoin and Ether products and has no funds tied to other cryptocurrencies. That stands in contrast to other asset managers that have recently moved to expand their ETF lineups to include XRP, Solana and Dogecoin.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.