BlackRock Files for Bitcoin ETF Offering Downside Protection

Oct 19, 10:11 PM UTCNeutralMedium impact

Asset manager BlackRock has submitted an application to the Securities and Exchange Commission for the iShares Bitcoin Managed Protect ETF. The proposed fund is designed to shield investors from market downturns while offering capped gains tied to the firm's main bitcoin fund, the iShares Bitcoin Trust (IBIT), or similar bitcoin assets.

The filing expands the company's cryptocurrency lineup following the debut of IBIT in January 2024 and its Bitcoin Premium Income ETF in June. IBIT has grown into the largest bitcoin fund of its type, holding over $65 billion in assets under management. The new submission represents BlackRock's third bitcoin-focused fund product.

This structured option reflects ongoing efforts to attract risk-conscious investors to digital asset products. As regulatory reviews proceed, market participants will monitor whether the product secures approval, particularly as competitor asset managers launch funds tied to alternative tokens such as XRP, Solana (SOL), and Dogecoin (DOGE), whereas BlackRock continues to focus exclusively on bitcoin and Ethereum products.

Key points

BlackRock filed with the SEC for the iShares Bitcoin Managed Protect ETF.
The fund aims to offer downside protection with limited upside exposure to IBIT or similar bitcoin holdings.
The iShares Bitcoin Trust (IBIT) holds over $65 billion in assets, making it the largest bitcoin ETF of its kind.
This submission marks BlackRock's third bitcoin ETF filing to date.

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Questions and answers

What is the iShares Bitcoin Managed Protect ETF?

It is a proposed fund filed by BlackRock designed to provide downside protection alongside limited upside exposure to its flagship iShares Bitcoin Trust (IBIT) or similar bitcoin assets.

How large is BlackRock's main bitcoin fund, IBIT?

The iShares Bitcoin Trust (IBIT) has over $65 billion in assets under management, making it the largest bitcoin exchange-traded fund of its kind.

Does BlackRock offer ETFs for cryptocurrencies other than bitcoin?

BlackRock currently offers investment products tracking only bitcoin and Ethereum, unlike some competing issuers that have launched funds for tokens such as XRP, SOL, and DOGE.