CoinMeta data: According to U.Today, Blackstone Group is launching a new Bitcoin ETF product called PBIT, aimed at providing investors with some protection against downside risks. According to the newly released prospectus, this ETF will seek to provide investors with an upside exposure to Blackstone’s spot Bitcoin ETF ( IBIT ), while also offering certain downside protection. This new product may attract those investors who wish to have exposure to Bitcoin but do not want to bear all of its volatility. Blackstone’s IBIT has always been popular among investors as its flagship Bitcoin ETF; the launch of PBIT may make Bitcoin investments more attractive to risk-averse investors.