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) 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).

BITA posted an $860,335 decrease in net assets from operations through June 30, its first quarterly filing shows. IBIT is BlackRock’s spot Bitcoin fund and one of BITA’s underlying investments.

BlackRock's BITA recorded $782,203 of unrealized losses on Bitcoin and $417,644 on IBIT, for a combined $1,199,847. Its $344,849 of realized and unrealized option gains offset about 28.7% of those marks. A $5,337 net investment loss resulted in an overall decrease from operations of $860,335.

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