Just In: BlackRock Launches iShares Bitcoin ETF on Cboe Canada

In a significant development for the crypto landscape, BlackRock has launched its iShares Bitcoin ETF on Cboe Canada, offering investors a way to gain exposure to Bitcoin through their brokerage accounts.

Cboe Canada Inc. announced the launch of BlackRock Asset Management Canada Limited’s latest exchange-traded fund (ETF), the iShares Bitcoin ETF. The iShares Bitcoin ETF, now trading on Cboe Canada under the symbol IBIT, with U.S. dollar-denominated units trading under IBIT.U, marks a key step in expanding accessible crypto investment products in Canada. The fund allocates most or all of its assets to the iShares Bitcoin Trust ETF, which primarily invests in long-term Bitcoin holdings.

IBIT and IBIT.U Now Trading on Cboe Canada

IBIT and IBIT.U are now trading alongside seven iShares listings already trading on Cboe Canada. Investors can trade units of iShares ETFs through their usual investment channels, including discount brokerage platforms and full-service dealers.

The ETF, traded under the symbols IBIT and IBIT.U, aims to track Bitcoin’s price performance, investing primarily in the U.S.-based iShares Bitcoin Trust ETF. This move highlights BlackRock’s commitment to innovation and providing Canadian investors with an easy and cost-effective method to invest in Bitcoin.

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Easy Bitcoin Exposure

BlackRock’s US IBIT ETF has become the world’s most popular Bitcoin fund, attracting over $37 billion in net inflows since its launch in January 2024, according to Farside Investors. Overall, US Bitcoin ETFs saw a total of more than $35 billion in net inflows for the year, or roughly about $144 million in daily net inflows.

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. The iShares Fund provides Canadian investors with a convenient and cost-effective way to gain exposure to bitcoin and helps remove the operational and custody complexities of holding bitcoin directly,” noted Helen Hayes, Head of iShares Canada, BlackRock.

This development is expected to boost what is already shaping up to be a strong year for Bitcoin. Experts predict that the leading cryptocurrency could reach $120,000 by the end of January.