Summary:
RBC iShares launches iShares Bitcoin ETF (IBIT) in Canada.
The ETF reflects the performance of bitcoin minus expenses.
Invests in U.S. IBIT, the worldās largest spot bitcoin ETF.
BlackRock manages the ETF using Coinbase Prime for custody.
Provides Canadian investors with a convenient way to access bitcoin.
RBC iShares Expands Access to BlackRockās Bitcoin ETP Platform
TORONTO, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Today, RBC iShares has expanded access to BlackRockās digital asset investment platform with the launch of the iShares Bitcoin ETF (IBIT) in Canada. The iShares Fund aims to reflect the performance of the price of bitcoin, minus its expenses and liabilities. An additional U.S.-dollar denominated class (IBIT.U) will also be available.
The iShares Fund invests in the U.S.-listed iShares Bitcoin Trust ETF (U.S. IBIT), which is recognized as the worldās largest spot bitcoin exchange-traded product. U.S. IBIT is managed by BlackRock, the largest asset manager globally, utilizing a multi-year technology integration developed with Coinbase Prime, the largest institutional digital asset custodian.
By holding U.S. IBIT, the iShares Bitcoin ETF is supported by the same institutional-grade technology and risk management expertise that powers over 1,400 ETFs globally. The launch of the iShares Bitcoin ETF is a significant milestone in the firmās digital assets program, providing Canadian investors with innovative access to bitcoin.
Helen Hayes, Head of iShares Canada at BlackRock, stated, āThe launch of the iShares Bitcoin ETF in Canada underscores BlackRockās commitment to innovation and providing clients access to an expanding world of investments. The iShares Fund offers Canadian investors a convenient and cost-effective way to gain exposure to bitcoin, alleviating the operational complexities of holding bitcoin directly.ā
The iShares Fund has completed its initial offering of units, which will be listed on Cboe Canada when markets open today. The Fund will be managed by BlackRock Asset Management Canada Limited.
| Fund Name | Ticker | Management Fee | Listing Date | |-----------------------|------------------|---------------------|-----------------------| | iShares Bitcoin ETF | IBIT, IBIT.U | 0.32% | January 13, 2025 |
RBC iShares aims to empower clients in achieving their investment objectives, building efficient portfolios, and taking control of their financial futures. They are dedicated to delivering a differentiated ETF experience and positive outcomes for clients.
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