BlackRock CAD has unveiled its latest financial offering, the iShares Bitcoin ETF, now available for trading on Cboe Canada. The new exchange-traded fund (ETF) is listed under the ticker symbols IBIT (CAD) and IBIT.U (USD), providing Canadian investors with a regulated and accessible means to invest in Bitcoin.
The iShares Bitcoin ETF employs a “funds-of-funds” strategy, primarily holding shares of the U.S.-listed iShares Bitcoin Trust ETF (U.S. IBIT), which directly owns Bitcoin. This approach aims to simplify the process of Bitcoin investment while ensuring regulatory compliance.
Coinbase Prime, an institutional-grade digital asset custodian, backs the ETF, offering cutting-edge technology to manage and safeguard Bitcoin assets securely.
In a press release, Helen Hayes, Head of iShares Canada at BlackRock, highlighted the significance of the new product. “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,” Hayes stated. She emphasized that the ETF offers Canadian investors a “convenient and cost-effective way to gain exposure to Bitcoin” without the complexities of holding the digital asset directly.
Cboe Canada, which facilitates about 15% of the trading volume for securities listed on Canadian exchanges, will host the new ETF. The exchange is already known for its lineup of innovative financial products, including U.S. spot crypto ETFs.
Rob Marrocco, Global Head of Cboe ETF Listings, remarked on the exchange’s pioneering role: “Cboe has a reputation as the exchange that has brought many first-of-their-kind products to market.”
As of January 10, 2025, the iShares Bitcoin ETF (CAD) reported net assets of approximately $701,338, with 25,000 units outstanding. The fund carries a management fee of 0.32%.
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