# BlackRock files for PBIT bitcoin ETF using options

Canonical: https://chainminute.com/news/a8a1a3db-c362-4300-bbbc-546a6420d9b1
Published: 2026-10-20T00:43:52.567Z
Publisher: Chain Minute

An iShares filing proposes overlapping options and fixed-income holdings; its management fee and listing exchange remain unfinished.

BlackRock filed with the U.S. Securities and Exchange Commission for another bitcoin ETF on October 19, [The Block reported](https://www.theblock.co/news/regulation/2026-10-19-blackrock-files-bitcoin-managed-protect-etf-downside-protection-ibit-421087). The proposed product is formally named the iShares Bitcoin Managed Protection ETF, with PBIT shown as its intended ticker.

The [registration amendment](https://www.sec.gov/Archives/edgar/data/1100663/000119312526425335/d144515d485apos.htm) names iShares Trust as registrant and BlackRock Fund Advisors as investment adviser. It is a Form N-1A post-effective amendment under the trust’s existing registration, submitted to EDGAR as a 485APOS filing.

It proposes overlapping option spreads linked to IBIT or similar bitcoin reference assets, alongside a fixed-income cash-management portfolio. Those holdings can include cash equivalents, money-market funds and government obligations.

The prospectus excludes direct investment in bitcoin or bitcoin exchange-traded products. IBIT supplies a reference for the options strategy, not a proposed direct holding.

The application follows BlackRock’s earlier bitcoin-fund launches. The Block reports that the iShares Bitcoin Trust ETF, known as IBIT, launched in January 2024, and that the iShares Bitcoin Premium Income ETF followed in June. The report also cites Bloomberg Intelligence analyst James Seyffart describing the application as BlackRock’s third bitcoin ETF filing, while noting that the firm’s crypto products remain focused on bitcoin and Ethereum.

Several fields remain unfinished. The management fee, total annual operating expense figure and listing exchange are blank. The preliminary prospectus carries an incomplete 2027 date.

Its cover selects proposed effectiveness 75 days after filing. The document says securities cannot be sold until effectiveness and that the SEC has neither approved nor disapproved them. A confirmed trading-launch date is not supplied.

## Sources

- [iShares Trust Form 485APOS / Form N-1A, Post-Effective Amendment No. 2,895](https://www.sec.gov/Archives/edgar/data/1100663/000119312526425335/d144515d485apos.htm) — iShares Trust / SEC EDGAR
- [BlackRock files for bitcoin ETF offering downside protection and upside exposure to IBIT](https://www.theblock.co/news/regulation/2026-10-19-blackrock-files-bitcoin-managed-protect-etf-downside-protection-ibit-421087) — The Block

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