Cboe Canada announced yesterday that asset manager BlackRock will launch a new Bitcoin exchange-traded fund (ETF).
This ETF, known as the iShares Bitcoin ETF, will allow Canadian investors to access BlackRock's popular US-based Bitcoin fund, iShares Bitcoin Trust (IBIT).
Cboe Canada has stated the ETF will invest primarily in IBIT, with the goal of investing "all or substantially all of its assets."
The Canadian fund will have the same ticker as BlackRock's US product, IBIT, and US dollar-denominated shares will trade under the IBIT.U ticker.
BlackRock's head of iShares Canada, Helen Hayes, explained that the iShares fund aims to offer Canadian investors a simpler way to gain exposure to Bitcoin, without having to deal with the complexities of direct Bitcoin ownership.