Current outcome
BlackRock filed a preliminary prospectus with the SEC for the iShares Bitcoin Managed Protection ETF (PBIT), which would use options linked to its $65.7B spot IBIT fund to offer limited downside protection in exchange for capped gains, adding a third Bitcoin-linked product to its crypto ETF lineup without filing for Solana or XRP exposure.
Progress timeline
2 material updates- #01
贝莱德提交第三只比特币ETF申请，拟提供下行保护及IBIT上涨敞口
BlackRock submitted a filing with the US SEC for the iShares Bitcoin Managed Protect ETF, which would offer partial downside protection while delivering capped upside exposure to its flagship IBIT bitcoin ETF.
Source evidence: theblockbeats · Cointelegraph
- #02
BlackRock Files for 'Buffer' Bitcoin ETF as IBIT Draws $665M in a Day
The report adds details of the same SEC filing: proposed ticker PBIT, a buffer structure using IBIT options with three overlapping monthly tranches, roughly 10% initial downside protection per tranche, registration under the Investment Company Act of 1940, and an unfilled management fee.
State after update: BlackRock has filed with the US SEC for the iShares Bitcoin Managed Protection ETF (proposed ticker PBIT), a buffer ETF using IBIT options to provide roughly 10% downside protection while capping upside; the filing remains pending SEC review and has not been approved or launched.
Source evidence: Decrypt