BlackRock launched the iShares Bitcoin Premium Income ETF (BITA) on the Nasdaq. The fund provides bitcoin exposure while generating monthly income through a covered call strategy. BITA holds spot bitcoin and shares of the iShares Bitcoin Trust (IBIT).
The fund generates yield by selling call options on its IBIT holdings. The ETF targets an annual yield between 15% and 25%.
This launch positions BlackRock ahead of competitors like Goldman Sachs in the yield-generating crypto market. Robert Mitchnick, BlackRock’s Head of Digital Assets, stated the fund serves clients seeking both bitcoin exposure and passive income.