BlackRock Launches BITA Covered-Call Bitcoin ETF for Monthly Income

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BlackRock listed the iShares Bitcoin Premium Income ETF, or BITA, on Nasdaq with a 0.65% annual expense ratio. The fund began trading on June 9 and uses a covered-call strategy over Bitcoin exposure and IBIT shares. The trust writes monthly call options on 25% to 35% of its net asset value. BITA expects monthly distributions, but shareholders forgo gains above the options' strike price on the hedged portion.
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