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On 19 October 2026, BlackRock filed to register the iShares Bitcoin Managed Protection ETF, proposed ticker PBIT. Nothing is approved yet.
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PBIT would buy and sell call options on IBIT and hold bonds and cash. It would not hold bitcoin directly.
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Each tranche's bought calls are struck at about 90% of IBIT's price, which sets an initial maximum loss of roughly 10% per tranche, before fees. Gains are capped.
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The prospectus says protection is neither fixed nor guaranteed. The floor moves, fees reduce it, and investors can still lose money.
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BlackRock chose effectiveness 75 days after filing, which points to early January 2027 at the earliest. The fee has not been disclosed.
Sources, context and the details behind every number are in the full article on btcmedia.news.
Not financial advice.