BlackRock Files For Bitcoin ETF With Managed Downside Protection

TL;DR: BlackRock has proposed another Bitcoin-linked ETF, this time using options to pursue some protection against losses while giving up part of the potential upside.
BlackRock’s latest Bitcoin fund filing takes a different approach from the familiar buy-and-hold exposure offered by its iShares Bitcoin Trust. Instead of simply following the price of Bitcoin, the proposed iShares Bitcoin Managed Protection ETF would use an options strategy linked to IBIT or similar exposure.
The ambition