Blackrock's BITA Bitcoin Income ETF Launches June 16 With 0.65% Fee, 15-25% Yield Target

According to Bloomberg senior ETF analyst Eric Balchunas, Blackrock's iShares Bitcoin Premium Income ETF (BITA) launched on Nasdaq on June 16, targeting 15-25% annual yield while capturing at least 70% of bitcoin's upside at a 0.65% expense ratio. Blackrock filed the key Form 8-A registration on June 11, positioning BITA ahead of Goldman Sachs' similar bitcoin income product expected in early July.

BITA is an actively managed covered-call fund holding bitcoin exposure through Coinbase custody and iShares Bitcoin Trust (IBIT) shares, from which it sells call options to generate premium income for investors. The fund aims to deliver monthly distributions while maintaining participation in bitcoin price appreciation up to the sold calls' strike prices.