BlackRock, a global investment management giant, has launched the iShares Bitcoin ETF on the Cboe Canada exchange. This marks a significant milestone in the mainstream adoption of Bitcoin as an investment asset.
The iShares Bitcoin ETF, trading under the ticker symbol IBIT, provides Canadian investors with a convenient and regulated pathway to gain exposure to Bitcoin through their traditional brokerage accounts. It seeks to mirror Bitcoin’s price performance before accounting for fund expenses and liabilities.
This launch comes on the heels of the successful launch of BlackRock’s iShares Bitcoin Trust ETF in the United States, which has garnered significant investor interest. The Canadian ETF will invest mostly in the United States. iShares Bitcoin Trust ETF, allowing Canadian investors to participate in the growth of this established fund.
The iShares Bitcoin ETF is anticipated to attract a diverse range of investors, from individual investors seeking to diversify their portfolios to institutional investors looking for regulated exposure to Bitcoin.
BlackRock’s entry into the Canadian Bitcoin ETF market is expected to further legitimize Bitcoin as an investment asset and drive increased institutional adoption of cryptocurrencies.
