BlackRock launches Bitcoin ETF on CBOE Canada

BlackRock has launched a Bitcoin ETF in Canada. The iShares Bitcoin ETF, which has IBIT (CAD) and IBIT.U (USD) trading symbols, allows investors to invest in crypto.

This action underlines BlackRock’s focus on Bitcoin ETFs, advancements, and investments in digital assets.

What is the iShares Bitcoin ETF?

The iShares Bitcoin ETF aims to track Bitcoin’s net performance in terms of fees and other costs. It focuses entirely on the iShares Bitcoin Trust ETF, which has long-term investments. It enables you to access the Bitcoin market without needing a digital wallet or having custody concerns.

Helen Hayes, the Head of iShares Canada at BlackRock, said, “The iShares Fund gives Canadian investors an easy and affordable way to invest in Bitcoin. With this, you do not need to experience the hassle of owning Bitcoin.”

This new addition further expands BlackRock’s already large ETF lineup on Cboe Canada and continues to develop its focus on crypto.

Why This Matters

Its approval is an important development that would boost the uptake of digital assets in Canada. It allows the retail and institutional consumers of Bitcoin to buy it through their brokerage firms in a regulated manner. Cboe’s Rob Marrocco stated, “Investors seek crypto exposure through ETFs, and Cboe is ready to deliver.”

This ETF also leverages Cboe’s experience dealing with other innovative financial instruments. Cboe, known for pioneering cryptocurrency ETFs in the US, is a trusted partner for BlackRock’s IBIT listing.

Conclusion

BlackRock did an excellent job listing the Bitcoin ETF on the Cboe Canada platform, which is a plus for investors. Through it, Bitcoins’ complexities and other complications are removed, and traders can trade using conventional brokers. It will become a factor in extending entry and the usage of cryptocurrencies.

This allows crypto traders to bet on the increasing industry regardless of their skill level.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.

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