BlackRock is set to launch a Bitcoin fund that pays income.
The world’s largest asset manager filed its fourth amendment for the iShares Bitcoin Premium Income ETF on Tuesday, according to its SEC filing. The fund will trade on Nasdaq under the symbol BITA.
Revenue comes from options. The fund holds Bitcoin and shares of IBIT, BlackRock’s $47 billion spot Bitcoin ETF. She sells call options on these IBIT shares every month.
A call option gives the buyer the right to buy the stock at a fixed price. The fund receives a commission, called a premium, for the sale of this right. This premium corresponds to the income it returns to investors.
As such, selling call options caps the fund’s gains if bitcoin rallies sharply. Investors receive a stable income in exchange for giving up part of a major project. The fund plans to write calls on 25% to 35% of its value at a time.
The advantage, however, is the costs. BlackRock set the sponsor fee at 0.65%, which is below the two largest covered call Bitcoin funds, YBTC and BTCI, which charge 0.95% and 0.99%, Bloomberg analyst Eric Balchunas said in an article on X.
BlackRock just filed a new (and likely final) amendment for its Bitcoin Premium Income ETF $BITA and WE HAVE A FEES: 65 basis points. Obv higher than $IBIT et al but lower than the two largest ETFs in the “covered call” category which are 95bp and 99bp. I guess this will be launched… pic.twitter.com/KBwFrmkdbJ
– Éric Balchunas (@EricBalchunas) June 10, 2026
Balchunas added that he expects the fund to launch very soon, noting that BlackRock is under pressure to beat Goldman Sachs to market, with Goldman’s own Bitcoin fund expected to go live around July 1.
BlackRock already has the strongest distribution base in the Bitcoin ETF spot market. Its iShares Bitcoin Trust, IBIT, has become the industry’s flagship product, regularly attracting the largest inflows and often absorbing capital even when competing funds experience redemptions.
Fidelity’s IBIT and FBTC have increasingly turned the U.S. Bitcoin spot ETF market into a two-company race, with smaller issuers often contributing little to daily flows.
The launch would be another step in transforming Bitcoin into an income product for traditional investors. The filing shows that the fund is already up and has started buying Bitcoin and IBIT shares – a sign that it is close to being ready.
