BlackRock has launched a new bitcoin exchange-traded fund (ETF) on Cboe Canada, offering investors a convenient and cost-effective way to gain exposure to the cryptocurrency.
The iShares Bitcoin ETF (the “iShares Fund”) is now trading on Cboe Canada. The iShares ETF trades in U.S. dollars and is available in two classes: units (symbol: IBIT) and U.S. dollar denominated units (symbol: IBIT.U).
The iShares Bitcoin ETF seeks to reflect generally the performance of the price of bitcoin, before payment of the iShares Fund’s expenses and liabilities. The iShares Fund invests all or substantially all of its assets in iShares Bitcoin Trust ETF (the “U.S. IBIT”), and U.S. IBIT invests in and holds substantially all of its assets in long-term holdings of bitcoin.
The iShares Bitcoin ETF will allow investors to gain access to bitcoin in their brokerage accounts.
“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,” said Helen Hayes, Head of iShares Canada, BlackRock.
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.
“Cboe has a history of bringing many first-of-their-kind products to market, including spot crypto ETFs in the United States, and we’re thrilled to continue our leadership in innovation by listing BlackRock Canada’s IBIT ETF on Cboe Canada,” said Rob Marrocco, Global Head of ETF Listings at Cboe. “Investors increasingly seek crypto exposure through exchange-listed wrappers, and Cboe intends to meet this demand by leveraging both our global listings capabilities and our derivatives expertise to broaden market access and grow the crypto ecosystem with new products. We are pleased to work with BlackRock and look forward to supporting their success on a global scale through our global listings network.”
Cboe Canada is home to ETFs from Canada’s largest ETF issuers, the entire suite of Canadian Depositary Receipts (CDRs), and some of the most innovative Canadian and international growth companies. Cboe consistently facilitates 15% of all volume traded in Canadian listed securities. Click here for a complete view of all Cboe-listed securities.
RBC iShares aims to help clients achieve their investment objectives by empowering them to build efficient portfolios and take control of their financial futures. RBC iShares is committed to delivering a truly differentiated ETF experience and positive outcomes for clients.
Source: Cboe
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