BlackRock Files for a Bitcoin ETF With Downside Protection and IBIT Upside

BlackRock, the world’s largest investment manager, has filed with the SEC for a new fund called the iShares Bitcoin Managed Protect ETF. The filing came on Monday. The fund is built to give investors upside exposure to the iShares Bitcoin Trust ETF, known as IBIT, and similar bitcoin exposure up to an approximate limit, while also aiming to provide a level of downside protection.

IBIT Is the Largest Bitcoin ETF

IBIT launched in January 2024 and now holds more than $65 billion in assets, making it the biggest fund of its kind based on industry tracker data. The new product will follow this flagship trust.

BlackRock’s Growing Bitcoin ETF Lineup

In June, the firm launched its iShares Bitcoin Premium Income ETF, which gives bitcoin exposure while producing monthly option premium income.

Analyst Notes Third Bitcoin Filing

Bloomberg Intelligence analyst James Seyffart said this is BlackRock’s third bitcoin ETF filing. He also pointed out that the company still offers only bitcoin and Ethereum products, while other issuers have launched funds tied to assets such as XRP, SOL and DOGE.