BlackRock ($BLK@US) is looking to set up so-called buffer ETFs with the objective of limiting investors’ downside and capping their potential gains. The Securities and Exchange filing reveals that the BlackRock Large Cap Moderate Buffer ETF and the BlackRock Large Cap Deep Buffer ETF aim to track the performance of the $305 billion iShares Core S&P 500 ETF (ticker IVV) by employing options to reduce potential fluctuations in investors' returns. Buffer ETFs are a booming $6.9 trillion industry that has provided safer investments in an economy rocked by the COVID-19 pandemic. Innovator ETFs emerged as a leader in the buffer ETF market after introducing its first defined-outcome ETF in 2018. Although buffer products, as well as leveraged and inverse ETFs, have gained traction among investors, regulators have taken notice and begun to scrutinize these relatively complex offerings.