EddieJayonCrypto
13 Jan 25
BlackRock has launched the iShares Bitcoin ETF in Canada, trading under 'IBIT' on Cboe Canada. The ETF aims to mirror Bitcoin's performance and utilizes technology integration with Coinbase Prime. It carries a 0.32% management fee and is available in Canadian (IBIT) and US dollar (IBIT.U) classes. T...
BlackRock has expanded its digital asset offerings by launching the iShares Bitcoin ETF in Canada, trading under 'IBIT' on Cboe Canada. The ETF aims to mirror Bitcoin's performance and utilizes technology integration with Coinbase Prime. It carries a 0.32% management fee and is available in Canadian (IBIT) and US dollar (IBIT.U) classes. The fund's net assets are approximately CAD 2 million with 50,000 units outstanding. In the US, BlackRock's IBIT is the largest Bitcoin ETF, with over $52.7 billion in net assets.
The newly launched iShares Bitcoin ETF in Canada seeks to mirror the performance of Bitcoin’s price before accounting for the ETF’s expenses and liabilities. It achieves this by investing in the US-listed iShares Bitcoin Trust ETF. This structure leverages a technology integration developed with Coinbase Prime, a leading institutional digital asset custodian. According to Helen Hayes, Head of iShares Canada at BlackRock, "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."