BlackRock's Bitcoin Income ETF Drops 0.65% Fee Tag, $9.99M Seed, and a Ticker That Sounds Like a Coffee Order

BlackRock filed a fourth amendment to its S-1 registration statement for the iShares Bitcoin Premium Income ETF with the U.S. Securities and Exchange Commission on June 10, disclosing key operational details that point to an imminent launch. The proposed fund is set to list and trade under the ticker BITA on NASDAQ. It is described as actively managed and structured to track Bitcoin price performance while generating additional income through a covered call options strategy, primarily by writing call options on IBIT or on indices that track spot Bitcoin exchange-traded products.

The latest amendment sets the sponsor's fee at 0.65%, to be paid using proceeds from the sale of IBIT shares, with a potential fee waiver also disclosed. The trust's net asset value was reported at $9.99 million, or $49.97 per share. Jane Street Capital and Virtu Financial Singapore are listed as the authorized Bitcoin trading counterparties handling the product's on- and off-ramp transactions.

BlackRock's filing arrives as other major institutions move into the same segment. CoinGape reported earlier that Goldman Sachs filed for a Bitcoin Premium ETF with the SEC in April, with plans to invest up to 80% of its net assets in instruments providing Bitcoin exposure. The developments underscore continued institutional engagement with yield-oriented Bitcoin products as multiple issuers position for what they describe as a growing appetite for income strategies tied to spot crypto ETPs.