BlackRock’s $12.5T Bitcoin ETF Filing Shakes Markets — Is Approval Imminent?

BlackRock, the world’s largest asset manager, has filed an application for a new Bitcoin Premium Income ETF, a move that could significantly expand institutional exposure to digital ￰3￱ $12.5 trillion firm is seeking approval for what would be its latest entry into cryptocurrency products, adding to its growing dominance in the exchange-traded fund ￰4￱ BlackRock ETF Seeks Yield on Bitcoin Through Covered-Call Strategy The proposed Bitcoin Premium Income ETF is designed as a covered-call strategy, offering yield on Bitcoin ￰5￱ analyst Eric Balchunas noted that BlackRock has registered the name iShares Bitcoin Premium ETF and described it as a “33 Act spot product,” positioned as a sequel to the firm’s $87 billion iShares Bitcoin Trust (IBIT).

BlackRock registered the name iShares Bitcoin Premium ETF, filing coming ￰6￱ is a covered call bitcoin strategy in order to give btc some ￰7￱ will be a '33 Act spot product, sequel to the $87b $IBIT. pic. twitter. com/IR7hJ59m6q — Eric Balchunas (@EricBalchunas) September 25, 2025 If approved, the new product could attract traditional finance investors seeking income from Bitcoin while further cementing BlackRock’s position as the leading provider of crypto ￰8￱ filing comes at a time when BlackRock’s digital asset business is rapidly ￰9￱ to data shared by the Onchain Foundation, the company’s Bitcoin and Ether ETFs are generating more than $260 million in annual revenue, with $218 million from Bitcoin products and $42 million from ￰10￱ generates $260 million annually from Bitcoin and Ether ETFs as Wall Street institutional adoption reaches new heights. #Bitcoin #Ethereum ￰0￱ — ￰11￱ (@cryptonews) September 23, 2025 Analysts say the success of these funds signals that crypto ETFs are no longer an experiment but a meaningful profit center for the asset manager.

On-chain data from Arkham Intelligence shows that BlackRock is now the largest institutional custodian of both Bitcoin and ￰12￱ firm holds more than 756,000 BTC valued at $85.29 billion, alongside 3.8 million ETH worth nearly $16 ￰13￱ smaller crypto holdings, BlackRock’s total digital asset custody now exceeds $101 ￰14￱ firm is also known for making large purchases during market downturns, a pattern that has helped strengthen its position as a key player in crypto markets. BlackRock’s expansion into digital assets continues to draw ￰15￱ Ethereum-linked fund recorded $512 million in net capital inflows last week, according to Farside ￰16￱ its second-quarter earnings report, BlackRock disclosed $14.1 billion in digital asset inflows, making the category one of its fastest-growing product lines despite representing only 1% of total assets under ￰17￱ ETFs generated $40 million in base fees and securities lending revenue in the same ￰18￱ firm is also exploring tokenization , a process of creating blockchain-based versions of traditional ￰19￱ this year, BlackRock launched its tokenized money market fund BUIDL, which has grown to more than $2 billion in assets. @BlackRock is looking into the tokenization of ETFs, following the firm's launch of its BUIDL fund and spot Bitcoin ETFs. #Tokenization #BlackRock #ETFs ￰1￱ — ￰20￱ (@cryptonews) September 11, 2025 Chief Executive Officer Larry Fink has repeatedly said he believes every financial asset can ultimately be tokenized, and BlackRock has tested tokenized fund shares on JPMorgan’s Onyx blockchain, now known as ￰21￱ Bitcoin Premium Income ETF filing adds to this momentum, placing pressure on regulators as institutional adoption of cryptocurrency continues to ￰22￱ ETF Market Set to Broaden Under SEC’s Faster Approval Process The SEC has approved new listing rules that could accelerate the launch of crypto exchange-traded funds beyond Bitcoin and ￰23￱ September 18, the commission voted to allow Nasdaq, Cboe BZX, and NYSE Arca to adopt generic listing standards for commodity-based trust ￰24￱ SEC has approved new rules allowing Nasdaq, Cboe and NYSE to fast-track crypto spot ETFs, opening the door to wider listings. #SEC #CryptoETFs ￰2￱ — ￰25￱ (@cryptonews) September 18, 2025 The change replaces the lengthy case-by-case review process that previously delayed applications, often for months or ￰26￱ managers will now be able to bring products to market in as little as 75 days , compared with up to 240 under the old ￰27￱ say the first beneficiaries are likely to be spot ETFs tied to Solana and XRP, both of which have awaited approval for more than a year.

Bloomberg’s James Seyffart called the new framework “the crypto ETP structure we’ve been waiting for,” predicting a surge of ￰28￱ Chair Paul Atkins said the shift balances innovation with investor protection and reflects the Trump administration’s broader embrace of digital ￰29￱ move contrasts with the Biden-era approach, which saw years of delays and repeated denials, including multiple rejections of Bitcoin ETF proposals before eventual approval in January ￰30￱ the new framework, eligibility may extend to any cryptocurrency with at least six months of futures trading on the Coinbase Derivatives Exchange, according to Bloomberg’s Eric ￰31￱ could open the door for more than a dozen altcoin ETFs, potentially expanding investor access and further embedding digital assets into mainstream markets.