Unveiling the Bitcoin Boom: BlackRock’s Mysterious Canadian ETF Shake-Up!

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BlackRock has introduced a new Bitcoin exchange-traded fund (ETF) on the Canadian securities exchange, Cboe Canada. This offering, named the iShares Bitcoin ETF, aims to provide Canadian investors with access to BlackRock’s flagship U.S. spot Bitcoin fund, the iShares Bitcoin Trust (IBIT). The fund will predominantly invest its assets in IBIT, and will trade under the same ticker, IBIT. Shares available in U.S. dollars will be listed as IBIT.U.

Helen Hayes, BlackRock’s head of iShares Canada, highlighted that the fund offers a streamlined avenue for Canadian investors to gain Bitcoin exposure, removing the complexities associated with directly holding the cryptocurrency. The new ETF will join over a dozen Bitcoin ETFs already trading on Canadian exchanges.


The iShares Bitcoin ETF’s introduction reflects growing interest in Bitcoin investment products. BlackRock’s U.S. IBIT ETF, launched in January 2024, has emerged as notably popular, amassing over $37 billion in net inflows. Overall, U.S. Bitcoin ETFs have seen more than $35 billion in cumulative net inflows throughout the year, with large outflows affecting older competitors like the Grayscale Bitcoin Trust, which has higher management fees.

In November, total net assets for U.S. Bitcoin ETFs crossed the $100 billion threshold, a first according to Bloomberg Intelligence. Steno Research analysts anticipate these Bitcoin ETFs could attract an additional $48 billion in net inflows by 2025.

As BTC continues to be ingrained into investors’ portfolios, particularly as a hedge against geopolitical uncertainties and inflation, institutional inflows are expected to cause demand surges for Bitcoin, potentially driving its prices higher.