Funding
Blackrock Files for Bitcoin ETF with Downside Protection
BlackRock, the world's largest asset manager, has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for the Ishares Bitcoin Managed Protection ETF (PBIT). The proposed fund would use options and fixed-income investments to provide downside protection for bitcoin investors, limiting potential gains and potentially reducing losses. The ETF would trade under the ticker PBIT and would seek gains linked to the Ishares Bitcoin Trust ETF (IBIT) or similar bitcoin-linked assets.