BlackRock has introduced the iShares Bitcoin ETF in Canada and is now available to trade on Cboe Canada. The fund will be listed under the ticker IBIT for CAD and IBIT.U for USD, which provides an easy and regulated manner in which Canadians can invest in Bitcoin.
The fund employs a “fund-of-funds” approach by holding shares of the U.S.-listed iShares Bitcoin Trust ETF, which physically holds Bitcoin. Coinbase Prime, a trusted digital asset custodian, provides the ETF with secure and cutting-edge technology to manage Bitcoin holdings safely.
YOU MIGHT ALSO LIKE: TON Blockchain Eyes US Growth Amid Trump Administration Policies
As such, Helen Hayes, Head of iShares Canada at BlackRock, said, “The iShares Bitcoin ETF provides a cost-effective way for Canadian investors to gain exposure to Bitcoin without the complexities of direct ownership.”
Trading on Cboe Canada, which handles about 15% of securities traded on Canadian exchanges, is also in keeping with the exchange’s reputation for introducing innovative financial products.
As of January 10, 2025, the ETF has net assets of approximately $701,338 with 25,000 outstanding units. The management fee is 0.32%.
YOU MIGHT ALSO LIKE: Singapore Blocks Polymarket: A Tough Stand on Crypto Betting
In short, by offering the Bitcoin ETF, BlackRock commits itself to make it easier and more convenient for resident Canadians to invest in Bitcoin, thus further fortifying its commitment to leading financial innovation.