BlackRock Asset Management Canada Limited has introduced the iShares Bitcoin ETF on Cboe Canada, providing Canadian investors with a regulated avenue to gain exposure to Bitcoin. Trading under the tickers IBIT (CAD) and IBIT.U (USD), the ETF seeks to mirror Bitcoin’s price performance, minus expenses and liabilities.
The fund employs a fund-of-funds strategy, investing substantially all of its assets in the U.S.-listed iShares Bitcoin Trust ETF, which holds long-term positions in Bitcoin. This structure allows investors to access Bitcoin through traditional brokerage accounts, eliminating the complexities associated with direct cryptocurrency custody.
Helen Hayes, Head of iShares Canada at BlackRock, stated, “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 emphasized that the fund offers a convenient and cost-effective method for Canadian investors to gain Bitcoin exposure.
As of January 10, 2025, the Canada-listed iShares Bitcoin ETF reported net assets of approximately $701,338, with 25,000 units outstanding. The management fee for the ETF is set at 0.32%.
This launch adds to the growing list of Bitcoin ETFs available in Canada, offering investors diversified options to participate in the cryptocurrency market through regulated financial instruments.
