BlackRock has launched a Bitcoin ETF in Canada. The iShares Bitcoin ETF, which has IBIT (CAD) and IBIT.U (USD) trading symbols, allows investors to invest in crypto.
This action underlines BlackRock’s focus on Bitcoin ETFs, advancements, and investments in digital assets.
What is the iShares Bitcoin ETF?
The iShares Bitcoin ETF aims to track Bitcoin’s net performance in terms of fees and other costs. It focuses entirely on the iShares Bitcoin Trust ETF, which has long-term investments. It enables you to access the Bitcoin market without needing a digital wallet or having custody concerns.
JUST IN: $11.5 trillion BlackRock launches its #Bitcoin ETF on CBOE Canada
pic.twitter.com/PwRGD4PmUz
— Bitcoin Magazine (@BitcoinMagazine) January 13, 2025
Helen Hayes, the Head of iShares Canada at BlackRock, said, “The iShares Fund gives Canadian investors an easy and affordable way to invest in Bitcoin. With this, you do not need to experience the hassle of owning Bitcoin.”
This new addition further expands BlackRock’s already large ETF lineup on Cboe Canada and continues to develop its focus on crypto.
Keeping the new year momentum going strong as we welcome @BlackRockCA for the launch of the iShares Bitcoin ETF! Now trading under the symbols #IBIT and #IBIT.U, it provides access to #Bitcoin through a traditional investment vehicle. Read the PR: https://t.co/cwdWVy9Blx pic.twitter.com/KHGjecWGxM
— Cboe Canada (@CboeCanada) January 13, 2025
Why This Matters
Its approval is an important development that would boost the uptake of digital assets in Canada. It allows the retail and institutional consumers of Bitcoin to buy it through their brokerage firms in a regulated manner. Cboe’s Rob Marrocco stated, “Investors seek crypto exposure through ETFs, and Cboe is ready to deliver.”
“Cboe has a history of bringing many first-of-their-kind products to market, including spot #crypto ETFs in the U.S., and we’re thrilled to continue our leadership in by listing BlackRock Canada’s IBIT ETF on Cboe Canada.” -Rob Marrocco, Global Head of ETF Listings at Cboe.
— Cboe Canada (@CboeCanada) January 13, 2025
This ETF also leverages Cboe’s experience dealing with other innovative financial instruments. Cboe, known for pioneering cryptocurrency ETFs in the US, is a trusted partner for BlackRock’s IBIT listing.
iShares Bitcoin Trust $IBIT clears
final hurdle from the SEC, advancing ETF innovation and expanding access to #bitcoin for investors: https://t.co/zGoOUx5omRhttps://t.co/99dDoJExMT
— BlackRock_News (@BlackRock_News) January 10, 2024
Conclusion
BlackRock did an excellent job listing the Bitcoin ETF on the Cboe Canada platform, which is a plus for investors. Through it, Bitcoins’ complexities and other complications are removed, and traders can trade using conventional brokers. It will become a factor in extending entry and the usage of cryptocurrencies.
This allows crypto traders to bet on the increasing industry regardless of their skill level.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
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This articles is written by : Nermeen Nabil Khear Abdelmalak
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