BlackRock has filed for a new Bitcoin ETF called PBIT, its third such fund. This buffered product would use three overlapping sets of options to provide downside protection while limiting potential gains. The maximum protection would target approximately 10% loss before fees, but BlackRock warned that investors could face greater losses. Similar buffered products already exist from Calamos, First Trust and Innovator. US Bitcoin ETFs attracted $527 million last week, their strongest performance since September.
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