BlackRock, a global leader in wealth management, has launched a new Bitcoin exchange-traded fund (ETF) on the CBOE Canada exchange, targeting the growing demand for institutional investment in cryptocurrencies.
The iShares Bitcoin ETF is the first of its kind in the Canadian market, offering innovative investment opportunities for investors seeking exposure to Bitcoin and cryptocurrencies. This launch is part of BlackRock's ongoing strategy to solidify its presence in the global digital asset market, particularly amidst rising institutional interest in this asset class.
Rob Marocco, head of ETF listings at CBOE Canada, highlighted that the launch aligns with the increasing demand for innovative investment tools tied to cryptocurrencies. He noted that this expansion will contribute to the growth of the digital currency ecosystem and broaden market access.
Helen Hayes, head of BlackRock's new Bitcoin fund in Canada, emphasized that the fund provides Canadian investors with a convenient and flexible way to gain exposure to Bitcoin, ensuring a seamless investment process.
BlackRock’s success with its IBIT Bitcoin ETF in the U.S., which amassed over $52 billion in assets during its first year, demonstrates the company’s ability to attract significant institutional capital to the cryptocurrency space. The launch in Canada marks a new chapter in BlackRock's efforts to expand its reach in the evolving digital asset landscape.
