PANews reported on June 10th that, according to Bloomberg ETF analyst Eric Balchunas, BlackRock has submitted its fourth, and possibly final, S-1 amendment for its new product, the "iShares Bitcoin Premium Income ETF (BITA)," and disclosed for the first time a management fee of 0.65% (65bps). Balchunas stated that this fee is higher than products such as the spot Bitcoin ETF iShares Bitcoin Trust (IBIT), but lower than the two largest covered call ETFs, with fees of 0.95% and 0.99%, respectively.

BITA is expected to offer investors a yield enhancement strategy by holding Bitcoin exposure and selling call options. Balchunas anticipates BITA will soon receive listing approval, while BlackRock is currently competing with Goldman Sachs to be the first to launch a Bitcoin yield ETF. Goldman's product is expected to be ready for launch around July 1st, and the competition between the two companies has officially begun.