As much of the financial market awaits a regulatory ruling on BlackRock’s application to launch a spot Bitcoin ETF, the asset manager aggressively builds its presence on the ETF front with other ambitious products.
BlackRock is in the process of rolling out its Advantage Large Cap Income ETF BALI, which offers investors a diversified strategy, Dow Jones reported on Thursday.
BlackRock Offers Hybrid ETF
According to the Dow Jones report, the new ETF will invest in dividend-paying stocks and will also offer an option-focused strategy. The dividend-paying stocks will provide one monthly income stream.
At the same time, the ETF will sell call options via the S&P 500 index, said Jay Jacobs, BlackRock’s US head of thematic and active equity ETFs.
This diversified approach aims to meet the needs of investors bent on quick returns as well as growth over time, the report noted.
The new product comes on the heels of BlackRock’s offering of bond ETFs last year.
But the real development that BlackRock appears to be anticipating is approval of its spot Bitcoin ETF. A product that will facilitate direct trading of the underlying asset rather than futures contracts.
Last month, Galaxy CEO Mike Novogratz told Bloomberg ETF analyst Eric Balchunas that approval is all but a fait accompli. Or as Novogratz put it, “a question of when, not if.”
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Author: Michael Washburn
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