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Industry WireUpdated 20 Oct 2026Published 20 Oct 20262 min read
CoinGape and Bitcoin.com News both cover BlackRock's PBIT ETF filing but give conflicting accounts of whether the fund directly holds IBIT.
CoinGape and Bitcoin.com News both cover BlackRock's PBIT ETF filing but give conflicting accounts of whether the fund directly holds IBIT.
What all sources agree on
- BlackRock filed with the SEC for the iShares Bitcoin Managed Protection ETF, ticker PBIT.
- The fund uses a 'buffer'/protective options strategy tied to IBIT or bitcoin-linked assets.
- Investors would trade capped upside gains for downside loss protection.
- The filing was submitted around October 19-20, 2026.
Where the reports disagree
1Whether PBIT directly holds IBIT as an underlying asset
Also, this product will hold $IBIT as the underlying asset and will write/buy options around it to generate the defined outcomes.
CoinGape 2026-10-20 01:05
Unlike traditional spot bitcoin ETFs, PBIT would not directly hold bitcoin or bitcoin exchange-traded products. Instead, it would use options contracts and fixed-income securities.
Bitcoin.com News 2026-10-20 01:25
What would settle it: The SEC registration statement/prospectus for the iShares Bitcoin Managed Protection ETF (PBIT).
What to make of it
Treat the existence of the PBIT filing and its buffer/capped-gain structure as established, but do not assume a specific answer on whether the fund directly holds IBIT until the SEC filing itself is checked.
Treat the existence of the PBIT filing and its buffer/capped-gain structure as established, but do not assume a specific answer on whether the fund directly holds IBIT until the SEC filing itself is checked.
Originally reported by AltcoinGordon, written by Ethan Mercer. Republished with permission.
View the original on AltcoinGordon →
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