BlackRock introduces Bitcoin ETF in Canada, linking investors to its digital asset platform
RBC iShares has introduced the iShares Bitcoin ETF (IBIT) in Canada, expanding access to BlackRock’s digital asset investment platform.
The iShares Fund is designed to mirror the performance of bitcoin’s price, before deducting expenses and liabilities.
Additionally, the ETF will be available in a US-dollar denominated class under the ticker IBIT.U.
The iShares Bitcoin ETF invests in the US-listed iShares Bitcoin Trust ETF (US IBIT), which is the largest spot bitcoin exchange-traded product globally.
The US IBIT, managed by BlackRock, leverages technology developed in collaboration with Coinbase Prime, the leading institutional digital asset custodian.
Helen Hayes, head of iShares Canada at BlackRock, emphasized the importance of the new offering, stating, “The launch of the iShares Bitcoin ETF in Canada underscores BlackRock’s commitment to innovation and providing clients access to an expanding world of investments.”
She explained that the fund offers Canadian investors a convenient and cost-effective way to gain exposure to bitcoin while addressing the complexities of directly holding the cryptocurrency.
By holding the US IBIT, the iShares Bitcoin ETF benefits from BlackRock’s institutional-grade technology and expertise in risk management, which supports over 1,400 ETFs worldwide.
This launch marks a milestone in BlackRock’s digital assets program, offering Canadian investors streamlined access to bitcoin investments.
The initial offering of the iShares Fund units has closed, and the units are listed on Cboe Canada as of January 13.
Managed by BlackRock Asset Management Canada Limited, an indirect subsidiary of BlackRock, Inc., the iShares Fund aims to simplify access to bitcoin for Canadian investors.
Fund Details:
Name: iShares Bitcoin ETF
Tickers: IBIT, IBIT.U
Management Fee: 0.32 percent
Listing Date: January 13
