BlackRock Is Building a Bitcoin ETF for Investors Who Can’t Stomach the Swings
Bitcoin (CRYPTO:BTC) has made plenty of early investors rich. It has also put them through some brutal stretches, including a slide of roughly 75% from its late-2021 peak to its late-2022 low. For many investors, that volatility is the main reason to stay on the sidelines.
Asset manager BlackRock (NYSE:BLK) thinks it has a product for that crowd. And I’m not talking about the market-leading iShares Bitcoin Trust (NASDAQ:IBIT), a straight-up spot-price Bitcoin tracker with $67 billion of assets under management — also managed by BlackRock’s iShares arm. No, IBIT is getting a safer sibling.
On Oct. 19, the gigantic asset manager filed a preliminary prospectus with the Securities and Exchange Commission for the iShares Bitcoin Managed Protection ETF, which would trade under the ticker PBIT. The fund aims to deliver Bitcoin-linked gains up to a ceiling while cushioning some losses.
Source: www.fool.com — article syndicated from the publisher’s feed; all rights remain with the original publisher.