BlackRock is looking to add a Bitcoin ETF called PBIT that would seek to limit losses in exchange for capped gains. The fund would use three overlapping sets of options contracts, typically replacing one each month. Each set would initially target a maximum loss of about 10% on the underlying Bitcoin-linked asset, before fees and expenses. BlackRock cautioned that the fund would have no fixed protection starting value, floor or cap, so investors could lose more.
