Bitcoin ETF · Bitcoin · CryptoSlate
BlackRock’s Bitcoin income ETF offset less than 30% of its $1.2 million crypto losses with options
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◌ Single Source
BlackRock’s iShares Bitcoin Premium Income ETF (BITA) recorded $79,073 of realized gains and $265,776 of unrealized appreciation on written options in its first operating period, helping offset losses on its Bitcoin holdings and shares of the iShares Bitcoin Trust ETF (IBIT).
Key facts
- BlackRock's BITA recorded $782,203 of unrealized losses on Bitcoin and $417,644 on IBIT, for a combined $1,199,847
- BITA’s financial-statement NAV per share fell 3.08%, from $50 on the April 21 seed date to $48.46 on June 30
- BlackRock’s iShares Bitcoin Premium Income ETF (BITA) recorded $79,073 of realized gains and $265,776 of unrealized appreciation on written options in its first operating period, helping offset
- A July 1 filing declared a $457,924.72 distribution for premiums or other income received from June 9 through June 30
Summary
01 BlackRock’s BITA booked $344,849 in option gains in its first period, partially offsetting Bitcoin and IBIT losses. 02 Those gains covered about 28.7% of $1.2 million in crypto mark-to-market losses, leaving an $860,335 drop in net assets. 03 The filing uses different start dates for NAV, Bitcoin and IBIT, so the downside protection still lacks a clean comparison. BITA posted an $860,335 decrease in net assets from operations through June 30, its first quarterly filing shows.