BlackRock Discloses 0.65% Fee for Bitcoin Premium Income ETF BITA, Nearing Launch

According to Eric Balchunas, Bloomberg's ETF analyst, BlackRock filed its fourth and likely final S-1 amendment on June 10 for the "iShares Bitcoin Premium Income ETF (BITA)," disclosing a management fee of 0.65% (65 basis points). The fee is higher than the iShares Bitcoin Trust (IBIT) spot Bitcoin ETF but lower than the two largest covered call ETFs, which charge 0.95% and 0.99% respectively.

BITA will employ a yield-enhancement strategy by holding Bitcoin exposure and selling call options. Balchunas expects BITA to launch soon, with BlackRock in direct competition with Goldman Sachs to bring a Bitcoin income ETF to market first. Goldman's product is expected to be effective around July 1.