Trading for the Ishares Bitcoin ETF (IBIT) commenced on Jan. 13, 2025, on Cboe Canada, with listings under the symbols IBIT for Canadian dollars and IBIT.U for U.S. dollars. The fund is designed to mirror the price trajectory of bitcoin while factoring in operational expenses and liabilities.

The Blackrock ETF allocates its resources to the Ishares Bitcoin Trust ETF, a fund maintaining long-term bitcoin holdings. This approach grants investors exposure to bitcoin through their brokerage accounts, eliminating the hurdles and intricacies associated with direct custody of the digital asset.

Helen Hayes, who leads Ishares Canada, emphasized the value of the initiative. “The Ishares Fund provides Canadian investors with a convenient and cost-effective way to gain exposure to bitcoin and helps remove the operational and custody complexities of holding bitcoin directly,” Hayes remarked.

Rob Marrocco, Cboe Canada’s global head of ETF listings, lauded the partnership with Blackrock. “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,” he explained.

This latest ETF joins a suite of seven Ishares listings already active on Cboe Canada, a platform known for substantial trading volumes in Canadian securities. Investors can access IBIT through a variety of channels, including discount brokerage platforms and full-service dealers. In the announcement, Cboe reaffirmed its commitment to advancing digital asset offerings through its sophisticated trading infrastructure.

The introduction of the Ishares Bitcoin ETF signifies a growing institutional embrace of cryptocurrencies that grew exponentially last year. By adding this product to its portfolio, Ishares aims to solidify its ambition to provide Canadian investors with an accessible and innovative means to engage with the ever-evolving world of digital assets.

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