BlackRock, primarily based in New York Metropolis, is not breaking new floor.
Calamos debuted its first three protected bitcoin ETFs in early 2025, providing traders a selection between full draw back safety and funds that restrict losses to 10% or 20% over a set interval.
BlackRock’s submitting didn’t present particulars on how a lot draw back safety the proposed fund would supply, nor how a lot of bitcoin’s upside traders may seize.
Calamos places roughly 90% of the funds’ belongings into U.S. Treasuries and makes use of the remaining to purchase bitcoin-linked choices. The construction permits traders to learn when bitcoin rises, as much as a set cap, whereas limiting losses over an outlined interval.
The technique has discovered an viewers. Matt Kaufman, Calamos’ head of ETFs, mentioned in Might that the protected bitcoin funds had attracted between $10 million and $15 million over a number of weeks, at the same time as spot bitcoin ETFs noticed outflows.
BlackRock has additionally been wanting past funds that observe bitcoin’s value.
In June, it launched the Bitcoin Premium Revenue Fund (BITA), which holds bitcoin and IBIT shares whereas promoting name choices on roughly 25% to 35% of its portfolio to generate month-to-month earnings.
“There are traders throughout the spectrum … seeking to generate some quantity of earnings off of nonetheless having a largely giant, largely lengthy place to bitcoin,” Jay Jacobs, BlackRock’s U.S. head of fairness ETFs, informed CoinDesk on the time.
