BlackRock has filed its fourth amended S-1 registration for the proposed iShares Bitcoin Premium Income ETF (BITA). The filing details a covered-call strategy tied to its IBIT spot Bitcoin ETF and reveals $9.9 million in seed capital. While IBIT saw a $61.64 million outflow recently, it remains the largest U.S. spot Bitcoin ETF by net assets.
BlackRock submitted its fourth amended S-1 Registration Statement for the iShares Bitcoin Premium Income ETF (BITA) with the SEC. The proposed fund aims to provide investors with both Bitcoin price exposure and premium income.
BITA seeks to combine exposure to Bitcoin through BlackRock’s IBIT spot Bitcoin ETF with income generated by selling covered calls on Bitcoin. The actively managed strategy intends to deliver a total return through appreciation and options premium income.
According to a post by CryptoRednirav on X, BlackRock’s fourth amended BITA filing disclosed a 0.65% sponsor fee, seed capital transactions, and a covered-call strategy linked to IBIT.
The filing revealed BlackRock Financial Management purchased 198,000 shares at $50 each, providing approximately $9.9 million in seed capital. On June 9, the trust purchased 109.96 Bitcoin, 90,901 shares of IBIT, and wrote 856 covered call options contracts using proceeds.
BlackRock’s flagship IBIT Spot Bitcoin ETF remains the market leader despite recent outflows. Data from SoSoValue shows net outflows of $61.64 million on June 9, but IBIT holds the largest net asset amount of $47.37 billion among all U.S. Spot Bitcoin ETFs.
As BlackRock expands its digital asset presence, the proposed BITA fund signals growing institutional interest in Bitcoin ETF strategies focused on generating income.
