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Wu said that Bloomberg ETF analyst Eric Balchunas announced that BlackRock has submitted a new, possibly final, revised filing for the Bitcoin Premium Income ETF (ticker: BITA), and disclosed a management fee of 65 basis points. This fee is higher than products like BlackRock's existing spot Bitcoin ETF IBIT. Balchunas believes that BITA may be launched very soon, as BlackRock is trying to enter the market ahead of Goldman Sachs' similar product, which is set to take effect around July 1, and the competition for "income-oriented products" in Bitcoin ETFs is officially heating up.