BlackRock’s BITA ETF recorded $344,849 in option gains during its first operating period, offsetting approximately 28.7% of $1.2 million in mark-to-market losses on its Bitcoin holdings and IBIT shares. The fund posted an $860,335 decrease in net assets through June 30, while NAV per share fell only 3.08% from its April seed date. BITA ended June with $42.6 million in net assets, built primarily through capital contributions rather than performance. Direct performance comparisons remain inconclusive as NAV, Bitcoin and IBIT metrics use different measurement windows. A $457,924.72 distribution was declared, exceeding the fund’s GAAP option gains by $113,075.72.
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