BlackRock has filed with the SEC for a new Bitcoin exchange-traded fund called the iShares Bitcoin Managed Protection ETF. This product would use an options strategy linked to IBIT to participate in Bitcoin gains while offering partial downside protection. Gains could be capped and the protection is neither unconditional nor guaranteed. Options costs, fund expenses and changing market prices all affect shareholder returns. This product is part of a trend where issuers seek to offer alternatives to direct Bitcoin exposure for financial advisers.
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