The management company BlackRock has launched the Nasdaq Bitcoin ETF iShares Bitcoin Premium Income (BITA) on the stock exchange. The Fund combines exposure to spot Bitcoin (through direct ownership and IBIT stock) with active selling of hedged call options for 25-35% of portfolio assets. The strategy aims to generate monthly premium income and reduce volatility. The fund’s commission is 0.65%, and Coinbase and BNY Mellon are Castotans. At the start, BITA’s net assets amounted to about $10.65 million.

BlackRock identifies four scenarios for BITA: when the market falls, options mitigate losses; when sideways, they improve performance; and when Bitcoin soars, the fund limits potential returns above the option price. In doing so, the fund retains the full risk of a falling price of the underlying asset.

The launch of the new product comes against a background of declining institutional interest in the classic spot-based Bitcoin ETFs, positions in which declined by 17% in the first quarter of 2026.