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BlackRock is preparing to launch a bitcoin ETF structured to generate income for its holders, according to reporting from Yahoo Finance UK.
The product would mark a departure from straightforward spot exposure, the category BlackRock already occupies, and move the world's largest asset manager into a corner of the market that carries a different set of questions.
Chief among them: where does the yield come from? The Problem With "Pays You" Bitcoin does not pay dividends. It generates no cash flows, no coupon, no rent.
Any fund that distributes income to holders must extract it from somewhere — and that somewhere determines the risk profile of the product.
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