The proposed fund would invest at least 80% of its assets in collateralized loan obligations.
The launches come as investors shed assets in single-crypto ETFs.
BlackRock is reducing its tilt to U.S. equities and growth-oriented shares in favor of value stocks and fixed-income.
The ETF will look to buy companies that were recently deleted from major indexes.
Naysayers argue that the funds encourage day trading at the risk of fierce underperformance.
Asset managers are racing to combine a trendy investment vehicle with a fast-growing asset class.
A historically small number of Big Tech firms keep driving equity indexes to new highs.
Fidelity Investments is looking for a cut of the revenues of the ETFs on its platform.
BlackRock's fund dethroned the $19.65 billion Grayscale Bitcoin Trust.
The effort goes against the grain of a U.S. retirement structure built around mutual funds.
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