YEREVAN (CoinChapter.com) — BlackRock has launched a new Bitcoin ETF on Cboe Canada, according to a Jan. 13 announcement. Named the iShares Bitcoin ETF, it will trade under the ticker IBIT, matching its U.S. counterpart, the iShares Bitcoin Trust (IBIT). For shares priced in U.S. dollars, the ticker will be IBIT.U, as confirmed by Cboe Canada.
The fund’s primary purpose is to provide Canadian investors access to BlackRock’s flagship Bitcoin product, the iShares Bitcoin Trust. The ETF will allocate “all or substantially all of its assets” to IBIT. According to Helen Hayes, BlackRock’s head of iShares Canada, the ETF offers a streamlined way for investors to gain exposure to Bitcoin and avoid the challenges of direct custody and operations.
This new fund joins over a dozen Bitcoin ETFs already listed on Canadian exchanges, based on Nasdaq data.
BlackRock’s Bitcoin Funds See Significant Inflows
BlackRock’s U.S. iShares Bitcoin Trust has recorded over $37 billion in net inflows since its launch in January 2024, according to data from Farside Investors.
Overall, U.S. Bitcoin ETFs brought in $35 billion in total net inflows last year, averaging approximately $144 million per trading day. However, the market also saw over $20 billion in net outflows from the Grayscale Bitcoin Trust (GBTC), a fund launched in 2013 with comparatively higher management fees.
In November 2024, total net assets across U.S. Bitcoin ETFs exceeded $100 billion, according to Bloomberg Intelligence.
Predicted Growth for Bitcoin ETFs in 2025
Analysts at Steno Research estimate that Bitcoin ETFs will attract an additional $48 billion in net inflows during 2025. They attribute this trend to growing demand for Bitcoin as a hedge against inflation and geopolitical risks.
In a December report, JPMorgan highlighted Bitcoin’s increasing role in portfolios, noting “record capital inflows into crypto markets.” Overall, institutional interest in Bitcoin funds continues to rise, with inflows driving demand for these financial products.
