A catchy ETF ticker tells you almost nothing. What's built underneath does.
Jay Jacobs, BlackRock's US Head of Equity ETFs, told Anthony Pompliano
@APompliano that BIDA, BlackRock's Bitcoin premium income ETF, was deliberately structured as a 33-Act product instead of the standard 40-Act wrapper, the same structure used for Bitcoin and gold ETFs. The tradeoff: a more complex K-1 tax form in exchange for better after-tax efficiency. $BLK
Two similarly-named ETFs can carry different legal structures, tax forms, and market-maker support.
Podcast Alpha's coverage checks what actually separates a real ETF from a look-alike. Full breakdown:
Source: Anthony Pompliano -