TechFlow, Sept 26 — According to Bloomberg ETF analyst Eric Balchunas, BlackRock has filed an application to launch a new product called the iShares Bitcoin Premium ETF, a fund that employs a covered call options strategy.
Unlike traditional spot ETFs that passively track bitcoin prices, this product will hold bitcoin or related instruments while generating premium income by selling covered call options, distributing these earnings to investors and thereby converting bitcoin's volatility into investment returns. Balchunas noted that this move could disrupt competitors already developing yield-based bitcoin products.
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