BlackRock, the world’s largest wealth manager, has introduced a new Bitcoin ETF on CBOE Canada.
As stated in a recent press release from the CBOE, BlackRock has introduced an exchange-traded fund called iShares Bitcoin (BTC). This new ETF aims to offer institutional investors in Canada a way to invest in Bitcoin.
The most significant U.S. Bitcoin ETF, called IBIT, managed by BlackRock, has set a record as the swiftest-expanding fund ever, accumulating over $52 billion from investors during its initial year. This ETF is recognized for its rapid growth.
In response to the launch, Helen Hayes, who heads iShares Canada at BlackRock, stated that creating a domestic product would make it easier for individuals to own Bitcoin via a “practical and affordable” method.
Rob Marrocco, the Chief of Global ETF Listings at CBOE, shared similar views as Hayes, underlining that IBIT’s entry into the Canadian market is intended to meet growing investor interest in gaining exposure to cryptocurrencies.
More and more investors are looking for ways to get involved in cryptocurrencies, and Cboe aims to cater to this growing interest by utilizing our worldwide listing services and derivatives knowledge to expand market availability and foster the crypto community with innovative products. We’re excited to collaborate with BlackRock and look forward to helping them achieve global success through our extensive listings network.
Rob Marrocco, Global Head of ETF Listings at CBOE
Launching this product signifies one of the initial significant Bitcoin ETF entries into Canada’s market. In the United States, the Bitcoin ETF sector has already accumulated a staggering $107 billion in managed assets.
Although the Canadian market may not reach the same scale, BlackRock’s move could draw more institutional investment into Bitcoin via local avenues. Moreover, Bitcoin products are available in other regions like Brazil for BlackRock. This expansion signifies a growing worldwide interest in Bitcoin and cryptocurrencies as potential alternative assets, given inflation and instability in traditional financial markets.
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2025-01-13 21:24