BlackRock's IBIT fund recorded significant inflows of $665.2 million on October 20. Simultaneously, the firm filed for a new 'PBIT' fund that utilizes options to provide partial downside protection. On October 21, iShares Trust submitted a registration statement to the SEC for this new Bitcoin ETF designed to offer a partial downside buffer for investors.
The proposal uses overlapping options tranches to participate in bitcoin gains while seeking downside protection, though the prospectus warns investors could lose their investment despite the strategy.
Read the full storyWithdrawals from Fidelity and Grayscale funds reduced the category's total to $526.7 million as inflows resumed after outflows in the previous session.