Protection against price drops in BlackRock's spot bitcoin BTC $115,288.35 exchange-traded fund (ETF), is now at its priciest since the early April market slide.

BTCS shareholders can opt for a $0.05 per share in ETH or cash dividend plus a $0.35 reward for moving shares to book entry for at least 120 days.

Once-bullish crypto traders are warning of billions in potential ether liquidations and fresh downside risks for bitcoin.

The bank reiterated its buy rating on CORZ and raised its price target for the bitcoin miner to $22 from $16 to reflect the CoreWeave acquisition.