Nasdaq Files to List BlackRock iShares Bitcoin Premium Income ETF, May Generate Yield With Covered Call Strategy

• Nasdaq filed to list BlackRock’s iShares Bitcoin Premium Income ETF under the commodity-based trust rule.

• The fund will combine spot Bitcoin and IBIT holdings with covered calls and FLEX options to generate yield.

• SEC review is underway; BlackRock expects compliance with generic listing standards by Q1 2026.

BlackRock iShares Bitcoin Premium Income ETF — income-focused Bitcoin ETF details, yield strategy, and SEC review. Read the filing summary and next steps.

Nasdaq has filed to list BlackRock’s iShares Bitcoin Premium Income ETF, designed to generate yield from Bitcoin-linked covered call strategies.

• Nasdaq has filed with the SEC to list the BlackRock iShares Bitcoin Premium Income ETF under the commodity-based trust rule.
• The ETF will generate income through covered call strategies while holding Bitcoin, IBIT, cash, and exchange-listed FLEX options.
• BlackRock positioned the ETF as an income-focused alternative to IBIT, expanding its digital asset product lineup while aiming to reduce volatility.

Nasdaq has formally submitted a proposal to the U.S. Securities and Exchange Commission to list and trade the BlackRock iShares Bitcoin Premium Income ETF. The application was filed under the commodity-based trust rule on September 30. The SEC has acknowledged the submission and noted that the ETF meets the requirements under its general listing standards.

What is the BlackRock iShares Bitcoin Premium Income ETF?

The BlackRock iShares Bitcoin Premium Income ETF is an income-focused exchange-traded fund structured to hold spot Bitcoin and shares of IBIT while generating yield through covered call writing and exchange-listed FLEX options. The fund is positioned as an alternative to pure spot exposure, aiming to deliver income and potentially lower volatility.

How will the ETF generate income and manage exposure?

The ETF will primarily invest in spot Bitcoin and the iShares Bitcoin Trust (IBIT), maintain cash reserves, and sell call options on IBIT or indices that track spot Bitcoin exchange-traded products. The filing states the fund may also use exchange-listed FLEX options to fine-tune exposure and enhance yield. These option-based strategies generate premium income but can cap upside participation.

Why is Nasdaq listing the ETF under the commodity-based trust rule?

Nasdaq used the commodity-based trust rule because the fund’s principal asset is spot Bitcoin and related ETP shares. The commodity-based trust framework aligns the listing process with existing commodity-backed products and ensures Nasdaq’s review focuses on custody, market surveillance, and listing standards compliance.

Regulatory and market context

The SEC has opened a public comment period on the proposed rule change that would allow Nasdaq to list the ETF. BlackRock registered the trust in Delaware the prior week and has informed regulators the product will comply with the generic listing standards that apply beginning Q1 2026. Bloomberg ETF analyst Eric Balchunas (plain text) described the ETF as a sequel to IBIT in market commentary.

At the time of writing, Bitcoin maintained a trading range above $114,000, with daily lows at $112,740 and highs at $114,746. Market conditions and investor appetite for yield-oriented crypto products may influence the SEC review and eventual investor demand for the income-focused ETF.

How should investors evaluate an income-focused Bitcoin ETF?

Evaluate the fund’s holdings, option-writing frequency, counterparty and custody arrangements, fee structure, and tax treatment. Consider how covered call strategies reduce upside during rallies and how FLEX options affect liquidity. Review BlackRock’s filing and audit/custody statements for detail on mechanics and risk controls.

Frequently Asked Questions

Will the ETF hold physical Bitcoin?

Yes. The fund is structured to hold spot Bitcoin as its principal asset while also holding shares of IBIT and cash reserves to support option strategies and liquidity needs.

When will Nasdaq and the SEC complete the review?

The SEC’s public comment period is ongoing and the timeline depends on regulatory feedback; BlackRock has said the product will comply with generic listing standards from Q1 2026, which frames expectations for potential timing.

Key Takeaways

• Income focus: The ETF seeks yield through covered calls and FLEX options while holding spot Bitcoin and IBIT.
• Regulatory review: Nasdaq filed under the commodity-based trust rule; the SEC is soliciting comments.
• Investor considerations: Covered calls can reduce upside; assess custody, fees, and option counterparties before investing.

Conclusion

BlackRock’s iShares Bitcoin Premium Income ETF adds an income-oriented option for digital-asset investors, blending spot Bitcoin exposure with option-based yield strategies. The SEC review will determine listing timing; investors should review the filing details and evaluate trade-offs between yield and upside participation.