BlackRock Launches iShares Bitcoin ETF in Canada, Expanding Crypto Exposure

According to a CBOE press release, BlackRock has launched its iShares Bitcoin exchange-traded fund (ETF) in Canada, providing institutionally managed Bitcoin (BTC) exposure to local investors.

BlackRock already manages the largest U.S. spot Bitcoin ETF, known as IBIT, which has emerged as the fastest-growing fund in history, surpassing $52 billion in investor capital within its first year.

Commenting on the launch, Helen Hayes, Head of iShares Canada at BlackRock, noted that the introduction of a locally managed product will offer a “convenient and cost-effective” way for investors to gain exposure to Bitcoin.

Rob Marrocco, Global Head of ETF Listings at CBOE, echoed this sentiment, emphasizing that the expansion of IBIT into Canada will meet growing investor demand for cryptocurrency exposure.

“As investors increasingly seek crypto exposure through exchange-listed wrappers, CBOE intends to cater to this demand by leveraging our global listings capabilities and derivatives expertise to broaden market access and support the growth of the crypto ecosystem with new products,” Marrocco said.

The launch marks one of the first major spot Bitcoin ETFs to enter the Canadian market. In the U.S., the spot Bitcoin ETF complex has already accumulated $107 billion in assets under management.

While the Canadian market may not reach the same scale, BlackRock’s entry could attract more institutional capital into Bitcoin through local investment channels. Beyond Canada, BlackRock also offers Bitcoin products in markets like Brazil. The company’s expansion reflects growing global interest in Bitcoin and cryptocurrencies as alternative asset classes, particularly amid rising inflation and uncertainty in traditional financial markets.