🚨HUGE: BlackRock officially files for a Bitcoin ETF designed to LIMIT losses. The iShares Bitcoin Managed Protection ETF would offer upside on its $65 BILLION IBIT up to a cap while seeking "a level of downside protection," per its SEC filing. IBIT and BITA, BlackRock's covered-call income fund, both remain exposed to Bitcoin's drops. This one would buy and sell call options on IBIT and hold fixed income to help cushion losses. Its proposed ticker is PBIT.