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- BlackRock’s iShares Bitcoin ETF launch on Cboe Canada expands crypto accessibility, offering Canadian investors an efficient path to Bitcoin exposure.
- With surging Bitcoin ETF momentum, BlackRock reinforces its leadership in crypto markets, potentially driving Bitcoin prices toward $120,000.
BlackRock has introduced its iShares Bitcoin ETF on the Cboe Canada platform, marking a significant milestone in expanding crypto investment opportunities. Trading under the symbols IBIT and IBIT.U, the ETF offers Canadian investors an accessible route to Bitcoin exposure.
As published in a recent Businesswire update, Rob Marrocco, Global Head of ETF Listings at Cboe, stated:
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.
Furthermore, Cboe Canada hosts ETFs from the country’s largest issuers, Canadian Depositary Receipts (CDRs), and some of the most innovative Canadian and international markets. Currently, Cboe facilitates 15% of all volume traded in Canadian-listed securities.
Designed to track Bitcoin’s price performance, the fund allocates most of its assets to the U.S.-based iShares Bitcoin Trust ETF. This move reflects BlackRock’s ongoing commitment to simplifying cryptocurrency investment for retail and institutional clients.
A Milestone for Crypto Investment in Canada
The launch of IBIT underscores the growing acceptance of Bitcoin as an investment class in Canada. This latest addition to BlackRock’s iShares lineup becomes the eighth listing on Cboe Canada, further solidifying the platform’s role in fostering crypto accessibility.
Adding to this narrative, Helen Hayes, Head of iShares Canada at BlackRock, emphasized that the ETF provides a cost-effective and operationally simple alternative to direct Bitcoin ownership, helping investors avoid complexities such as custody and security. IBIT is available through standard investment channels, including full-service dealers and discount brokerage platforms.
Surging Bitcoin ETF Momentum
Aligned with a previous CNF update from July 2024, BlackRock’s Bitcoin ETF saw over $500 million in inflows, potentially driving BTC prices to new highs. BlackRock’s expansion into Canada builds on the success of its U.S. iShares Bitcoin Trust ETF, which has attracted over $37 billion in net inflows since its January 2024 launch. U.S. Bitcoin ETFs collectively pulled in more than $35 billion last year, reflecting heightened investor demand.
Market experts anticipate that this momentum could drive Bitcoin prices to $120,000 by the end of January, making BlackRock’s Canadian ETF launch particularly timely. With the iShares Bitcoin ETF, Canadian investors now have an efficient way to participate in this growing asset class, reinforcing BlackRock’s leadership in the evolving cryptocurrency market.
As of now, Bitcoin (BTC) is trading at $95,085.78, reflecting a 0.56% increase in the past day and a 6.64% decrease over the past week.
