By Isaac • October 20, 2026 7:26 am •
BlackRock is trying to solve a problem that has kept plenty of traditional investors away from Bitcoin: they want the upside, but they do not want to absorb every point of the downside.
The asset manager has filed for the iShares Bitcoin Managed Protection ETF, expected to trade under the ticker PBIT. The proposed fund would offer Bitcoin-linked returns with a built-in tradeoff.
Investors would give up gains above a periodically set cap in exchange for protection against an initial slice of losses.
The structure changes how Bitcoin risk is packaged for investors who may like the long-term case but cannot tolerate the asset’s full volatility.
According to the SEC filing, PBIT would not hold Bitcoin
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