Overview

• BlackRock registered a Delaware trust and the iShares Bitcoin Premium ETF name for a proposed fund that would generate income by writing covered calls on Bitcoin or related futures.
• Analyst Eric Balchunas describes the fund as a ’33 Act spot sequel to BlackRock’s iShares Bitcoin Trust, positioning it as an income-oriented complement rather than pure price exposure.
• The covered-call approach would distribute option premiums to investors while capping some upside compared with holding Bitcoin outright.
• The move follows BlackRock’s dominance in spot crypto ETFs, with IBIT near $87–90 billion in assets, over $260 million in annual crypto ETF revenue, and on-chain custody estimates of about 756,000 BTC and 3.8 million ETH.
• Exchanges now have generic listing standards approved on Sept. 18, which market watchers say could accelerate approvals for this and other crypto ETPs versus prior timelines.