• On June 16, BITA from BlackRock launches on the Nasdaq.
• This is a spot Bitcoin ETF with a yield of 15% to 25% per annum.
• The product uses a covered call strategy on IBIT shares to generate these proceeds.

BlackRock's spot Bitcoin ETF, named iShares Bitcoin Premium Income ETF (BITA), debuts on the Nasdaq exchange on June 16, 2026. This was stated by Bloomberg Intelligence analyst Eric Balchunas. 

The company filed an application to register this product with the US Securities and Exchange Commission (SEC) in late January 2026. The latest revisions, including information about the fee and more, were made very recently, on June 9.  

According to Balchunas, Nasdaq confirmed the listing of BITA on June 16. Trading of the product is expected to start at 16:30 Kyiv time. The fund's assets exceed $10.6 million at the moment, according to the official website.

What provides the yield?

BITA's structure provides for investments not only directly in Bitcoin; the fund will also hold on its balance sheet shares of another of the company's spot ETFs — IBIT — and a certain portion of cash. The ratio will be, roughly, 70% to 30%. 

At the same time, the product will sell covered call options on IBIT shares with a certain premium. It is the latter that will form the yield of 15% to 25% per annum. 

Call options allow you to buy the underlying asset, IBIT shares, at a predetermined price. If by the time of expiration the market value of the securities is lower, then the contract simply burns out, and the fund keeps the premium for itself. 

If higher — the holder exercises the option, the fund loses the difference in value but retains the premium. The latter also serves as a risk-hedging instrument in case IBIT shares drop sharply in price. 

Comparison with STRC and other analogues

Thanks to the built-in yield mechanism, BITA is contrasted with the preferred shares of Strategy, the largest corporate holder of the asset. 

These are perpetual securities with a floating dividend rate paid monthly and a par value of $100. According to the official website, it is 11.5%. 

However, they have long traded below the set threshold, according to Yahoo Finance. In addition, an increase in the volume of STRC may force Strategy to sell Bitcoins, reduce the share of the asset per share and, as a result, lead to a drawdown in metrics. 

Another analogue is the securities of the company Strive under the ticker SATA. The dividend rate on them is already 13%, while the shares trade in the par value zone. 

Unlike these two products, BITA offers a higher volume of proceeds, while also providing direct exposure to the first cryptocurrency.

Source: Incrypted