BlackRock’s proposed Bitcoin ETF would hold no Bitcoin or spot ETF shares

BlackRock filed with the U.S. Securities and Exchange Commission on Oct. 19 for the iShares Bitcoin Managed Protection ETF, ticker PBIT. The proposed fund would hold options and fixed-income securities and obtain Bitcoin exposure through derivatives. Its preliminary prospectus excludes direct Bitcoin holdings and shares of spot Bitcoin exchange-traded products. The fund’s securities cannot be sold until the registration statement becomes effective, meaning the SEC filing must be completed before any sale.