BlackRock has filed for PBIT, a proposed Bitcoin ETF designed to limit some losses while allowing some gains. The protection level and cap on gains depend on the fund’s final terms, and investors would not be fully protected from losses.
Bloomberg Intelligence analyst James Seyffart said the fund would hold BlackRock’s IBIT Bitcoin ETF and use options to produce those outcomes. He described it as BlackRock’s third Bitcoin ETF filing and said the firm’s crypto products remain limited to Bitcoin and Ethereum.
