BlackRock Files for Bitcoin Managed Protection ETF, Offering Downside Protection for IBIT

BlackRock—the world’s largest asset manager—officially filed an application with the U.S. Securities and Exchange Commission (SEC) on Monday to launch a new product called the iShares Bitcoin Managed Protect ETF. The fund is designed to provide investors with exposure to the upside potential of the iShares Bitcoin Trust ETF (IBIT) and other assets offering similar Bitcoin risk exposure, while aiming to offer some downside protection during market declines. As of now, IBIT—issued by BlackRock’s iShares—manages over $65 billion in assets, making it the largest Bitcoin ETF by assets under management (AUM). Notably, IBIT launched in January 2024, and BlackRock rolled out another product this June: the iShares Bitcoin Premium Income ETF.