Cboe Canada Inc. welcomes BlackRock Asset Management Canada Limited for the launch of their latest ETF, the iShares Bitcoin ETF.
The iShares ETF now trades on Cboe Canada under “the symbol IBIT, with U.S. dollar denominated units trading under the symbol IBIT.U.”
The iShares Bitcoin ETF seeks to reflect generally the performance of the price of bitcoin, before “payment of the iShares Fund’s expenses and liabilities.”
The iShares Fund reportedly invests all or “substantially” all of its assets in iShares Bitcoin Trust ETF (U.S. IBIT), and U.S. IBIT also invests in and holds “substantially all of its assets in long-term holdings of bitcoin.”
The iShares Bitcoin ETF will allow investors to gain “access to bitcoin in their brokerage accounts.”
Helen Hayes, Head of iShares Canada, BlackRock said:
“The launch of the iShares Bitcoin ETF in Canada underscores BlackRock’s commitment to innovation and providing clients access to an expanding world of investments. 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.”
IBIT and IBIT.U are now trading alongside seven iShares listings “already trading on Cboe Canada.”
Investors can trade units of iShares ETFs through their usual investment channels, “including discount brokerage platforms and full-service dealers.”
Rob Marrocco, Global Head of ETF Listings at Cboe said:
“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. We are pleased to work with BlackRock and look forward to supporting their success on a global scale through our global listings network.”
Cboe Canada is home to ETFs from Canada’s ETF issuers, the entire suite of Canadian Depositary Receipts (CDRs), and some of the innovative Canadian and international growth firms.
Cboe consistently facilitates “15% of all volume traded” in Canadian listed securities.
RBC iShares aims to help clients achieve their investment objectives “by empowering them to build efficient portfolios and take control of their financial futures.”
RBC iShares is committed to delivering a “differentiated ETF experience and positive outcomes for clients.”
As noted in the update, Cboe Canada is Canada’s Tier 1 stock exchange providing a best-in-class listing experience for Issuers “that are shaping the economies of tomorrow.”
Fully operational since 2015, Cboe Canada lists companies and investment products seeking an internationally recognized “stock exchange that enables investor trust, quality liquidity, and broad awareness including unfettered access to market data.”
Cboe Canada is part of Cboe Global Markets, the securities and derivatives exchange. With exchanges in North America, Europe and Asia Pacific, Cboe is harnessing its network to equip Issuers with “essential capital markets solutions and exceptional service.”
Cboe powers ETF Market Canada, a platform providing investors and advisors with “access to ETF research and analysis.”
Real-time, institutional-grade data allows users to compare, “contrast, and explore the entire universe of 1,200+ Canadian ETFs, free of charge.”
As mentioned in the announcement, BlackRock’s purpose is to help people experience financial well-being.
As a fiduciary to investors and a leading provider of financial technology, BlackRock helps people build savings that serve them “throughout their lives by making investing easier and more affordable.”
As stated in the release, iShares unlocks opportunity “across markets to meet the evolving needs of investors.”
With 20+ years of experience, a line-up of 1400+ exchange traded funds (ETFs) and $4.2 trillion in AuM as of Sep 30, 2024, iShares says that it continues to drive “progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.”
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