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BlackRock Files for 'Buffer' Bitcoin ETF (PBIT) to Limit Losses, as IBIT Draws $665M in a Day
BlackRock has filed with the SEC to launch the iShares Bitcoin Managed Protection ETF, ticker PBIT, which aims to cap investor gains in exchange for limiting losses. This new fund would use options on the iShares Bitcoin Trust ETF (IBIT) rather than holding Bitcoin directly. The filing came on Monday, the same day BlackRock's IBIT recorded $665.2 million in inflows, making it the only U.S. spot Bitcoin ETF to post net inflows that day, according to SoSoValue.
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