BlackRock Bitcoin ETF Sets 0.65% Fee As Launch Race Heats Up

BlackRock filed a fourth amendment for its iShares Bitcoin Premium Income ETF with the SEC on Jun. 10, setting the sponsor fee at 0.65% for the proposed Nasdaq-listed fund under ticker BITA. The yield-focused ETF would track Bitcoin's price while generating income through covered-call strategies, mainly selling call options on IBIT shares and at times on exchange-traded product indices. Bloomberg analyst Eric Balchunas said the launch could happen 'very soon,' and the in-kind conversion minimum for smaller Bitcoin holders to swap coins for IBIT shares has fallen to $1 million.