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Author: Admin | 2025-04-28
On Monday, BlackRock announced it had launched a new Bitcoin exchange-traded fund (ETF) in Canada, known as the iShares Bitcoin ETF. The ETF is now available for trading on the CBOE Canada under the ticker symbol IBIT, with U.S. dollar-denominated units trading as IBIT.U.The fund, primarily investing in BlackRock’s U.S.-based iShares Bitcoin Trust, joins a growing market of over ten existing Bitcoin ETFs in Canada. Through the new launch, BlackRock seeks to provide Canadian investors with a convenient way to gain exposure to Bitcoin without the complexities associated with direct ownership.According to Helen Hayes, Head of iShares Canada at BlackRock, the product was created as part of BlackRock’s ongoing strategy to simplify access to Bitcoin for Canadian investors, removing operational and custody challenges.While BlackRock actively endorses Bitcoin, its rival Vanguard remains skeptical. The $9 trillion asset manager has opted out of the cryptocurrency ETF market, even as more competitors join the race.“In Vanguard’s view, crypto is more of a speculation than an investment,” said Janel Jackson, Vanguard’s former global head of ETF Capital Markets and Broker & Index Relations, in a statement last January following the debut of US-listed spot Bitcoin ETFs.Vanguard’s new CEO, Salim Ramji, who previously played a key role in expanding BlackRock’s ETF offerings, said that Vanguard did not have any plans to explore Bitcoin-related investment products. Nicholas Say was born in Ann Arbor, Michigan. He has traveled extensively, lived in Uruguay for many years, and currently resides in the Far East. His writing can be found all over the web, with special emphasis placed on realistic development, and the next generation of human technology.
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