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CryptoIntelligence 2025-01-14 04:20:00

BlackRock Launches Bitcoin ETF in Canada Offering IBIT Exposure

Asset manager BlackRock has announced the launch of a new Bitcoin exchange-traded fund (ETF) on Cboe Canada, according to a Jan. 13 statement from the Canadian securities exchange. The ETF, named iShares Bitcoin ETF, aims to provide Canadian investors with access to BlackRock’s flagship U.S. spot Bitcoin fund, the iShares Bitcoin Trust (IBIT). Cboe Canada stated that the fund will allocate “all or substantially all of its assets” to IBIT. The Canadian ETF will trade under the ticker IBIT, identical to its U.S. counterpart. Additionally, shares denominated in U.S. dollars will be available under the ticker IBIT.U. Helen Hayes, BlackRock’s head of iShares Canada, commented, “The iShares Fund provides Canadian investors with a way to gain exposure to bitcoin and helps remove the operational and custody complexities of holding bitcoin directly.” This ETF joins a growing list of over a dozen Bitcoin ETFs already trading on Canadian exchanges, according to Nasdaq. The IBIT.U shares will be listed in Canada but priced in U.S. dollars, as confirmed by Cboe Canada. Growing Demand for Bitcoin ETFs BlackRock’s U.S. IBIT ETF has rapidly become the most sought-after Bitcoin fund globally. Since its January 2024 launch, the fund has recorded over $37 billion in net inflows, as reported by Farside Investors. U.S. Bitcoin ETFs collectively experienced more than $35 billion in net inflows throughout the year, equating to roughly $144 million daily. This figure also accounts for $20 billion in outflows from the Grayscale Bitcoin Trust (GBTC), a fund launched in 2013 with higher management fees compared to newer options. In November, U.S. Bitcoin ETFs surpassed $100 billion in net assets for the first time, Bloomberg Intelligence reported. JPMorgan noted in December that Bitcoin is becoming a key portfolio component for investors seeking to hedge against inflation and geopolitical risks. Sygnum Bank suggested that surging institutional inflows in 2025 could create demand shocks, driving Bitcoin prices higher.