Key highlights:
Wall Street pushes deeper into crypto income products
BlackRock filed an application for BITA with the SEC in January before following up with four separate amendments.
Last week, it filed its final amendment, a move that analysts say teed it up for final approval by the securities regulator.The launch comes amid growing competition among traditional financial firms to create crypto products that generate yield rather than merely track prices.
BlackRock’s ETF will compete with the NEOS Bitcoin High Income ETF for market share, but despite its first-mover advantage, analysts say its higher expense ratio could see it quickly play second fiddle to BITA.
Meanwhile, Goldman Sachs is racing to roll out its own Bitcoin Income ETF tied to options after it filed an application with the SEC.
Source:: BlackRock Rolls Out BITA Bitcoin Income ETF as Crypto Yield Race Intensifies