BlackRock, the world’s largest wealth manager, has introduced a new Bitcoin ETF on CBOE Canada.
According to a CBOE press release, BlackRock has launched its iShares Bitcoin (BTC) exchange-traded fund to provide institutionally managed BTC exposure to Canadian investors.
BlackRock already manages the largest U.S. spot Bitcoin ETF, known as IBIT, which has been crowned the fastest-growing fund in history, surpassing $52 billion in investor capital within its first year.
Commenting on the launch, Helen Hayes, Head of iShares Canada at BlackRock, said that introducing a local product will simplify holding Bitcoin through a “convenient and cost-effective” channel.
Rob Marrocco, Global Head of ETF Listings at CBOE, echoed Hayes’ sentiment, emphasizing that IBIT’s expansion into Canada will cater to rising investor demand for crypto exposure.
Investors increasingly seek crypto exposure through exchange-listed wrappers, and Cboe intends to meet this demand by leveraging both our global listings capabilities and our derivatives expertise to broaden market access and grow the crypto ecosystem with new products. We are pleased to work with BlackRock and look forward to supporting their success on a global scale through our global listings network.
Rob Marrocco, Global Head of ETF Listings at CBOE
The launch marks one of the first major spot Bitcoin ETFs to enter the Canadian market. In the U.S., the spot Bitcoin ETF complex has already amassed $107 billion in assets under management.
While the Canadian market is unlikely to match that scale, BlackRock’s decision could bring more institutional capital into Bitcoin through local investment channels. In addition to Canada, BlackRock offers Bitcoin products in other markets such as Brazil. The company’s expansion reflects growing global attention on Bitcoin and cryptocurrencies as alternative asset classes amid inflation and uncertainty in traditional financial markets.
