Bitcoin · Bitcoin ETF · SEC · Bitcoin Magazine
BlackRock Files for Bitcoin ETF With Downside Buffer and Capped Upside
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BlackRock has filed for a new bitcoin exchange-traded fund which, if approved, would cap investors’ upside while limiting their losses.
Key facts
- BlackRock’s iShares Bitcoin Trust, IBIT, started trading in 2024 after the SEC gave the green light to 11 spot bitcoin ETFs
- On Monday, the fund received $665.2 million in fresh investment as bitcoin buyers flooded back into the market
- IBIT has the most assets under management out of the bitcoin ETFs, currently handling $65.7 billion
- That’s the biggest number of shares bought in the product since October 2025, when bitcoin notched a new all-time high, according to Farside Investors data
Summary
The iShares Bitcoin Managed Protection ETF, or PBIT, would aim “to create and manage bitcoin exposure,” according to a Monday filing with the Securities and Exchange Commission. It would work buying options and fixed-income strategies to give investors regulated bitcoin exposure with capped upside and some downside protection, but not direct bitcoin ownership. The fund would suit investors who want to invest in bitcoin but not experience all the volatility that comes with the top cryptocurrency. Bitcoin has attracted attention for its wild price swings over the years but its volatility has dampened as more investors have bought into the space.