BlackRock Expands Offering of IBIT Bitcoin ETF to Canada

Crypto | Jan 15, 2025

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BlackRock LaunchesiShares Bitcoin ETF (IBIT) in Canada on the Cboe Exchange

BlackRock, the world’s largest money manager, certainly understands the phrase ‘strike while the iron is hot’. With $11.6 trillion in assets under management (AUM), influence and credibility, they dominate a wide range of investment products especially the iShares ETF brand.

Last year, with various players, BlackRock launched this leading area bitcoin iShares ETF in the US which has attracted USD $50 billion since its launch in January 2024. BlackRock is now launching its popular Bitcoin exchange-traded fund in Canada on the Cboe Canada exchangegives Canadian investors another regulated option to gain exposure to the world’s most prominent cryptocurrency without having to deal with the complexities of digital wallet management and security concerns.

See: BlackRock Launches New Ethereum Fund, Bullish on Tokenization

the Canadian version of the iShares Bitcoin ETF trade under the ticker symbol It will go in Canadian dollars, in Cboe Canada Exchange (Note: IBIT.U is in USD) and mirrors the performance of Bitcoin with a 0.32% annual management fee. Bitcoin’s asset type is classified as a ‘commodity’ on BlackRock’s IBIT page, with the fund currently holding it. CAD $23.8 million net asset value.

Robert MitchnickHead of Digital Assets at BlackRock said in a Bloomberg interview:

“This is about bringing access… to Canadian investors. Canada is a market where we feel there is a significant opportunity. We find it compatible with all types of investors. It has the potential to be a fantastic diversifier. “

Investors Should Consider

Bitcoin has become one of the best performing asset classes in recent years and many crypto investment experts believe that Bitcoin is expected to appreciate further in 2025 with potentially favorable regulatory policies under a you new crypto-friendly US administration under Trumpfurther increasing institutional adoption.

Canada has long been recognized as a leader in cryptocurrency investment innovation and is first country to approve Bitcoin ETFs worldwidesetting the stage for wider adoption by individual and professional investors.

See: How Fintechs Unlock Value in Private Markets 2024

Although investing in crypto ETFs like IBIT makes it easier to return Bitcoin, prospective investors should understand that investing in cryptocurrencies is very high risk with significant price volatility.

Why It Matters

The more regulated ETFs that are approved the more adoption and acceptance of cryptocurrency as a mainstream asset class and investment option.

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