BlackRock races Goldman to launch a Bitcoin ETF that pays you
BlackRock has filed what is likely its final SEC amendment for the iShares Bitcoin Premium Income ETF, ticker BITA, setting up a race with Goldman Sachs to bring the first major yield-paying Bitcoin ETF to market.
@BlackRock is closing in on the launch of the iShares Bitcoin Premium Income ETF, filing what analysts believe to be its final SEC amendment for the product on June 9, 2026. The fund, set to trade on Nasdaq under the ticker $BITA, is designed to give investors Bitcoin exposure while generating regular income through a covered-call options strategy.
How BITA works
The structure is straightforward. The fund holds a mix of spot Bitcoin, shares of BlackRock's existing iShares Bitcoin Trust ($IBIT), and cash. It then sells call options against those holdings and distributes the premiums collected as income to shareholders. The trade-off is a cap on upside: in a sharp Bitcoin rally, written call options limit how much the fund can gain.
BlackRock has set a sponsor fee of 0.65% annually. According to Bloomberg ETF analyst Eric Balchunas, that pricing undercuts the two largest existing covered-call Bitcoin funds, which charge 0.95% and 0.99% respectively, while sitting above the rock-bottom fees of plain spot Bitcoin ETFs.
Goldman Sachs closes in
The timing of BlackRock's latest amendment intensifies what has become a direct race with Goldman Sachs. Goldman filed its own Bitcoin Premium Income ETF with the SEC on April 14, 2026, its first-ever crypto product. Like BITA, Goldman's fund will not hold Bitcoin directly. Instead, it plans to invest in spot Bitcoin ETFs and sell covered call options covering between 40% and 100% of the portfolio's Bitcoin exposure to generate monthly yield for investors. Based on the 75-day review window Goldman proposed in its filing, the fund could go live around late June or early July 2026.
The broader context matters here. The income ETF category has been one of the fastest-growing corners of the fund industry, with options-income products accumulating over $180 billion in assets across the US ETF market. Both BlackRock and Goldman are effectively applying that proven equity-market playbook to Bitcoin, targeting yield-hungry investors who want Bitcoin exposure without relying solely on price appreciation.
For investors, the key question is straightforward: regular income and dampened volatility in exchange for capped gains when Bitcoin moves sharply higher. Who should stick with plain $IBIT, and who might prefer $BITA, will depend entirely on that trade-off.
Sources:
iShares Bitcoin Premium Income ETF, Form S-1/A Amendment No. 4, SEC Filing (June 9, 2026)
BlackRock Files Likely-Final Amendment for Yield-Generating Bitcoin ETF, Unchained Crypto
Goldman Sachs Files for Bitcoin Premium Income ETF With Covered Call Strategy, Bitcoin.com News
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Crypto RichRich has been researching cryptocurrency and blockchain technology for eight years and has served as a senior analyst at BSCN since its founding in 2020. He focuses on fundamental analysis of early-stage crypto projects and tokens and has published in-depth research reports on over 200 emerging protocols. Rich also writes about broader technology and scientific trends and maintains active involvement in the crypto community through X/Twitter Spaces, and leading industry events.