BlackRock files for third Bitcoin ETF, still no Solana or XRP

BlackRock’s proposed Bitcoin fund would use options to limit potential losses and gains, adding another strategy to its existing Bitcoin and Ether ETF lineup.

BlackRock, the world’s largest asset manager, is looking to expand its crypto fund lineup with a Bitcoin exchange-traded fund (ETF) that offers limited downside protection in exchange for capped gains.

The world’s largest asset manager on Monday filed a preliminary prospectus with the US Securities and Exchange Commission for the iShares Bitcoin Managed Protection ETF (PBIT).

The proposed ETF would use options linked to BlackRock’s iShares Bitcoin Trust ETF (IBIT) rather than holding Bitcoin (BTC) directly, according to the preliminary prospectus filed with the US Securities and Exchange Commission (SEC).

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