BlackRock launches Bitcoin ETF for Canadian investors, BTC recovers!

Bittime - BlackRock , one of the largest asset managers in the world, has just launched the iShares Bitcoin ETF in Canada.

The ETF is designed to provide easy and regulated access for Canadian investors who want to invest in Bitcoin without having to hold the digital asset directly. This move is part of BlackRock's global expansion in supporting digital asset-based investments.

The ETF began trading on Cboe Canada under the ticker symbol IBIT for Canadian dollars and IBIT.U for US dollars. 

With a competitive management fee of 0.32%, the product offers a cost-effective way to gain exposure to Bitcoin, while addressing the technical and security challenges of holding digital assets.

Why is BlackRock Launching a Bitcoin ETF in Canada?

BlackRock sees great opportunities in the Canadian digital asset market, which is known as one of the pioneers in the regulation of crypto-based products. This iShares Bitcoin ETF allows investors to enjoy the benefits of Bitcoin investment through a safer and more regulated channel.

Helen Hayes, Head of iShares Canada at BlackRock, explained that this ETF provides “a convenient and efficient way to gain exposure to Bitcoin,” with the support of Coinbase Prime's advanced technology infrastructure.

Also read: Crypto News of the Week: Thailand Innovates with Crypto Payments, Market Corrections, to Programs

How Does the BlackRock Bitcoin ETF Work?

This ETF uses a “fund-of-funds” approach, where most of its assets are invested in the US-listed iShares Bitcoin Trust ETF. This approach allows the ETF to more accurately reflect Bitcoin's price performance before factoring in fees.

The security of Bitcoin assets in this ETF is guaranteed by Coinbase Prime, one of the leading institutional digital asset custodian providers. This gives investors added confidence, especially in terms of asset protection.

Early Performance and Market Response

Since its launch on January 13, 2025, the iShares Bitcoin ETF has attracted great attention. On its first day of trading on Cboe Canada, the ETF recorded significant trading volume, demonstrating Canadian investors' enthusiasm for the product.

The Bitcoin ETF has also become a popular choice in the US market, with total net assets reaching $52.7 billion, making it the largest Bitcoin ETF in the world. This performance demonstrates the growing demand for Bitcoin-based investment products.

Also read: Why Bitcoin Crashed: BTC Price Analysis and Predictions

Impact on the Global Bitcoin Ecosystem

BlackRock's expansion into Canada through the launch of this ETF demonstrates the growing adoption of Bitcoin among institutional investors. With this move, Canada strengthens its position as one of the key markets for innovation in digital asset investments.

Moreover, this launch could have a positive impact on the overall Bitcoin price, given the high market interest in Bitcoin-based ETFs. It also reflects how Bitcoin-based products can be a bridge to wider adoption across the globe.

BlackRock's strategic move with the launch of the iShares Bitcoin ETF in Canada demonstrates their strong commitment to innovation and support for digital assets. 

With ease and clear regulation, this product is expected to attract more investors and strengthen Bitcoin's position as one of the major digital assets in the global market.

FAQ

What is the iShares Bitcoin ETF from BlackRock?

The iShares Bitcoin ETF is an investment product that allows investors to gain exposure to Bitcoin without having to hold the digital asset directly. The ETF is designed to reflect the price performance of Bitcoin through a professionally managed fund structure.

Why is BlackRock launching a Bitcoin ETF in Canada?

Canada is known for having regulations that favor digital asset-based products. By launching a Bitcoin ETF in Canada, BlackRock is giving local investors easy and regulated access to invest in Bitcoin through a trusted marketplace.

What are the advantages of Bitcoin ETFs over holding Bitcoin directly?

Bitcoin ETFs offer greater security through institutional custodians, such as Coinbase Prime. In addition, they make it easier for investors in terms of liquidity, fee transparency, and no need to manage private keys or Bitcoin wallets on their own.

How to Buy Crypto on Bittime

Want to trade sell buy Bitcoins and crypto investment easily? Bittime is here to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures every transaction is safe and fast.

Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

Check the exchange rate BTC to IDR, ETH to IDR, SOL to IDR and other crypto assets to find out today's crypto market trends in real-time on Bittime.

Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

References

cryptodnes.bg, BlackRock Expands Bitcoin ETF to Canada, accessed on January 14, 2025.

beincrypto.com, Breaking BlackRock Launches its New Bitcoin ETF in Canada, accessed on January 14, 2025.

Author: AWW