UPDATE: BlackRock reveals PBIT ticker for buffer Bitcoin ETF
CIE News ·
Update to BlackRock files for third Bitcoin ETF tied to IBIT
Based on reporting by Decrypt; not yet independently confirmed.
BlackRock's planned buffer Bitcoin ETF will trade as PBIT, using options to cap gains and protect against about 10% of losses. The vehicle marks the asset manager's third Bitcoin ETF filing.
BlackRock has revealed that its proposed buffer Bitcoin (BTC) exchange-traded fund will trade under the ticker PBIT as the iShares Bitcoin Managed Protection ETF, following up on initial reports of the fund. Decrypt reported that the product seeks to deliver capped upside exposure to the iShares Bitcoin Trust ETF (IBIT) while establishing downside protection, according to an SEC filing submitted on October 19, 2026.
The fund will not hold Bitcoin or spot ETFs directly. Instead, it will buy call options tied to IBIT or similar exposure and sell higher-priced calls across three staggered monthly tranches, while also investing in fixed-income securities. Downside protection is designed to start at roughly 90% of the reference asset's value, which limits initial losses to about 10% before fund fees.
The vehicle would be registered under the Investment Company Act of 1940 as part of the iShares Trust. Decrypt noted that the submission marks BlackRock's third Bitcoin ETF filing, while the asset manager's overall crypto product lineup remains limited to Bitcoin and Ethereum.
Key facts
- Ticker PBIT
- 10% downside protection
- Options-based strategy
- Third Bitcoin ETF filing