BlackRock launches Bitcoin Premium ETF (BITA)

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According to Mars Finance, as reported by The Block, BlackRock has launched the iShares Bitcoin Premium Income ETF – BITA. This fund holds Bitcoin spot and BlackRock's iShares Bitcoin Trust ETF – IBIT, and sells call options on approximately 25% to 35% of its IBIT holdings to capture option premium income and distribute it to investors. BITA will trade on Nasdaq with a sponsorship fee of 0.65%. The report indicates that this product targets investors who want exposure to Bitcoin while focusing on returns.

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