BlackRock CAD announced the launching of its new iShares Bitcoin ETF, available immediately for trading on Cboe Canada. The launched ETF is listed under the ticker IBIT (in Canadian dollars) and IBIT.U (in U.S. dollars) and is solely created to make Bitcoin investment easy and regulated for residents in Canada.
The iShares Bitcoin ETF uses a “funds-of-funds” strategy, meaning it holds most shares of the U.S.-listed iShares Bitcoin Trust ETF (U.S. IBIT) that physically holds Bitcoin.
It is backed by Coinbase Prime, an institutional-level digital asset custodian that provides the ETF state-of-the-art technology to safely and securely manage Bitcoin.
In the press release, Helen Hayes, who heads iShares Canada at BlackRock, said, “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 also added that the ETF provides Canadian investors a “convenient and cost-effective way to gain exposure to Bitcoin” without the hassle of directly holding the digital asset.
The new ETF will be traded on Cboe Canada, which accounts for approximately 15% of total trading volume in securities listed on a Canadian exchange. Cboe is already home to several trending products, including U.S. spot crypto ETFs.
Rob Marrocco. Cboe ETF Listings, Global Head, stated in the release that, “Cboe has a reputation as the exchange that has brought many first-of-their-kind products to market.”
As of January 10, 2025, the CAD listed iShares Bitcoin ETF had net assets of about $701,338, with 25,000 units outstanding. The fund charges a management fee of 0.32%.
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