Financial firm BlackRock plans to debut a fresh Bitcoin Exchange-Traded Fund (ETF) on Cboe Canada, as reported on January 13th by the Canadian securities market.
The ETF is set up to provide Canadian investors with an opportunity to invest in BlackRock’s leading U.S. Bitcoin fund, known as the iShares Bitcoin Trust (IBIT). Essentially, it will allocate almost all of its assets towards investing in this specific trust, according to Cboe Canada.
The iShares Bitcoin ETF from Canada is given the same trading name, IBIT, as BlackRock’s US version. Each share, priced in U.S. dollars, can be bought using the ticker symbol IBIT.U, according to the exchange.
Through the iShares Fund, Canadian investors can conveniently invest in Bitcoin. This fund simplifies the intricate tasks associated with owning Bitcoin directly, such as management and safekeeping, according to Helen Hayes, the head of iShares Canada.
Approximately a dozen other Bitcoin Exchange-Traded Funds (ETFs) are expected to become available for trading on Canadian stock exchanges, as stated by Nasdaq.
Surging demand
The BlackRock U.S. IBIT ETF, which focuses on Bitcoin, has become the most widely used Bitcoin investment fund globally. Since its debut in January 2024, it has attracted over $37 billion in investments as per data from Farside Investors.
For the year, total investments into U.S. Bitcoin Exchange-Traded Funds (ETFs) surpassed $35 billion, which equates to approximately $144 million per trading day, as stated by Farside.
As an analyst, I’ve observed a significant impact on our figures due to over $20 billion in net outflows from the Grayscale Bitcoin Trust (GBTC) that was first introduced by the asset manager back in 2013 as a non-listed trust. Notably, GBTC’s management fees are notably higher compared to its more recent counterparts.
For the first time ever, in November, U.S. Bitcoin ETFs surpassed a total net asset value of $100 billion, as per data from Bloomberg Intelligence. Analysts at Steno Research forecast that these Bitcoin ETFs will draw approximately an additional $48 billion in net investments by the year 2025.
As a forward-thinking crypto investor, I’ve noticed that Bitcoin is growing more significant in my investment portfolio. This shift appears to be due to a structural change as investors aim to mitigate geopolitical risks and inflationary pressures. According to JPMorgan’s December report, this trend is supported by the unprecedented flow of capital into the crypto markets.
Institutional investments pouring into Bitcoin might trigger “surges” in demand, leading to a potential increase in the price of Bitcoin by 2025, according to asset manager Sygnum Bank, as stated in December.
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2025-01-13 21:43