BlackRock Files Bitcoin Premium Income ETF Amendment With 65-Basis-Point Fee
BlackRock filed an amended registration statement for its proposed Bitcoin Premium Income ETF, disclosing a 65-basis-point fee for the fund.
At 0.65%, the charge would be higher than BlackRock's spot-Bitcoin ETF IBIT but below the two largest covered-call ETFs, which charge 95 basis points and 99 basis points. The product's appeal will also depend on where it writes options relative to Bitcoin's current price, a choice that drives both the yield it targets and how much upside investors give up.
From the sources (3 posts)
@ericbalchunasBlackRock just filed a new (and probably final) amendment for their Bitcoin Premium Income ETF $BITA and WE HAVE A FEE: 65bps. Obv higher than $IBIT et al but lower than the two biggest ETFs in 'covered call' category which are 95bp and 99b
@ericbalchunasWill be interesting to see what % yield they (and GS) shoot for aka how curr price of btc the options are written aka how much upside do they give up. Here's a look at how much that number varies with some of the curr products on mkt. $YBIT
@jseyffRT @EricBalchunas: BlackRock just filed a new (and probably final) amendment for their Bitcoin Premium Income ETF $BITA and WE HAVE A FEE:…