BlackRock has expanded its selection of digital assets by launching the iShares Bitcoin ETF in Canada.
This new ETF, trading under the same symbol as its US counterpart, offers Canadian investors a convenient way to access Bitcoin without the complexities of direct ownership.
It began trading on January 13 on Cboe Canada and aims to mimic Bitcoin’s price performance, minus expenses and liabilities.
This is achieved by investing in the iShares Bitcoin Trust ETF listed in the US, utilizing a technology integration developed with Coinbase Prime, a leading digital asset custodian for institutions.
Head of iShares Canada, BlackRock, Helen Hayes, expresses excitement for the launch and praises Cboe for their leadership in innovation.
The Bitcoin ETF has a management fee of 0.32% and is available in Canadian and US dollar denominations. As of now, the fund holds approximately CAD 2 million in net assets with 50,000 units outstanding.
