BlackRock has launched a new Bitcoin exchange-traded fund (ETF) called BITA. The fund holds Bitcoin indirectly through its exposure to BlackRock’s existing spot Bitcoin ETF, IBIT. BITA aims to generate income by using a covered-call strategy: it sells call options on a portion of its IBIT-related Bitcoin holdings, described as up to 35% of those holdings. This approach is designed to provide periodic income to investors while potentially limiting the fund’s participation in Bitcoin’s upside when prices rise strongly. The outlets note that the trade-off is that BITA may forgo some gains in exchange for the option premium generated from selling calls. Both sources characterize the strategy as targeting double-digit yield expectations, though specific yield figures are presented as an outcome of the covered-call mechanism rather than a guarantee. Overall, the launch adds a new structured Bitcoin ETF option from BlackRock that focuses on income generation through option selling rather than solely tracking Bitcoin price movements.