Key highlights:
Asset manager ,
“BlackRock just filed a new (and probably final) amendment for their Bitcoin Premium Income ETF $BITA and WE HAVE A FEE: 65bps. Obv higher than $IBIT et al but lower than the two biggest ETFs in ‘covered call’ category which are 95bp and 99bp. My guess is this is going to launch very soon. They’re under gun to beat Goldman to mkt who is going to be effective around July 1. Game on.”
Recently, Goldman Sachs filed to launch its Bitcoin income ETF, which will earn income similar to BlackRock’s fund. Both funds follow the same structure. The funds will offer BTC exposure and help earn regular income, but will limit gains during Bitcoin price surges.
These moves come as investors continue to pull funds out of the Bitcoin spot ETFs. As highlighted by reporter Wu Blockchain, Bitcoin ETFs recorded a massive outflow of $214 million on June 10. Over the past month, the funds have only seen positive flows on three days, according to Glassnode.
Source: Glassnode
Interestingly, there are also other competitors in the Bitcoin income ETF market. Other ETF issuers like YieldMax and NEOS have already launched Bitcoin income ETFs with expense ratios of 0.95% and 0.99%, respectively.
Source:: BlackRock Nears Bitcoin Income ETF Launch as Race With Goldman Sachs Heats Up