The post Just In: BlackRock Launches iShares Bitcoin ETF on Cboe Canada appeared first on Coinpedia Fintech News
In a significant develoment 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.
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 while avoiding direct custody and operational challenges.
“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.