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BlackRock, the world’s largest wealth manager, has made a significant move by launching a Bitcoin Exchange-Traded Fund (ETF) on CBOE Canada, marking a major step in the global expansion of cryptocurrency investment products. This new ETF, called the iShares Bitcoin ETF, will provide Canadian investors with institutionally managed exposure to Bitcoin (BTC), simplifying the process of holding and trading Bitcoin through a regulated and cost-effective investment vehicle.
This launch builds on BlackRock’s success in the U.S. market, where its iShares Bitcoin ETF (IBIT) has become the fastest-growing fund in history, surpassing $52 billion in assets within its first year. BlackRock already manages the largest U.S. spot Bitcoin ETF, and the company’s entry into Canada is seen as a strategic move to further expand its global footprint in the cryptocurrency space.
Helen Hayes, Head of iShares Canada at BlackRock, commented on the launch, highlighting that the local Bitcoin ETF will make it easier for Canadian investors to gain exposure to Bitcoin, making the process both convenient and cost-effective.
Rob Marrocco, Global Head of ETF Listings at CBOE, also expressed excitement about the expansion into Canada, noting the growing demand from investors for crypto exposure through exchange-listed products. Marrocco emphasized that CBOE aims to leverage its global listings capabilities and derivatives expertise to meet the increasing demand for crypto investment products. By collaborating with BlackRock, CBOE hopes to support the success of these products and broaden market access globally.
The introduction of the iShares Bitcoin ETF in Canada is one of the first major spot Bitcoin ETFs to enter the market. While the Canadian market may not match the scale of the U.S. market—where the spot Bitcoin ETF complex has already accumulated $107 billion in assets under management—the launch is expected to draw institutional capital into Bitcoin through local investment channels.
BlackRock’s expansion of Bitcoin-related products is not limited to Canada, as the firm has also introduced such products in other markets, including Brazil. This growing focus on Bitcoin and cryptocurrencies reflects the increasing global interest in digital assets as alternative investments amid ongoing inflation concerns and uncertainty in traditional financial markets.
