BlackRock’s Bitcoin income ETF offset less than 30% of its $1.2M crypto losses with options
BlackRock’s iShares Bitcoin Premium Income ETF (BITA) generated $344,849 of realized and unrealized gains from written options in its first operating period, partly offsetting losses on Bitcoin and IBIT holdings. Through June 30, BITA reported an $860,335 decline in net assets from operations, including $782,203 of unrealized Bitcoin losses and $417,644 of unrealized IBIT losses, plus a small investment loss. Its NAV fell from $50 at seed to $48.46, while the fund’s separate performance figures show Bitcoin and IBIT both declined during the period. The results suggest covered-call premiums can cushion some downside, but the short record is too limited to judge how the strategy performs across a full market cycle. BITA ended June with $42.6 million in net assets after large capital inflows.
