RBC iShares Launches iShares Bitcoin ETF to Enhance Access to Digital Assets in Canada

RBC iShares launches the iShares Bitcoin ETF in Canada, providing investors access to bitcoin exposure via U.S.-listed assets.

Quiver AI Summary

On January 13, 2025, RBC iShares announced the launch of the iShares Bitcoin ETF (IBIT) in Canada, expanding access to BlackRock’s digital asset investment platform. The ETF aims to track the performance of Bitcoin’s price and will have a U.S.-dollar class (IBIT.U). It will invest in the U.S.-listed iShares Bitcoin Trust ETF, managed by BlackRock, which is the largest spotbitcoin exchangetraded product globally. The iShares Fund utilizes institutional-grade technology and risk management through a partnership with Coinbase Prime. This launch represents a key development in BlackRock's digital assets program, providing Canadian investors with an efficient way to gain exposure to Bitcoin while minimizing custody complexities. The iShares Bitcoin ETF will be listed on Cboe Canada, furthering RBC iShares' mission to deliver innovative investment solutions.

Potential Positives

• RBC iShares expanded access to BlackRock’s digital asset investment platform by launching the iShares Bitcoin ETF (IBIT) in Canada, providing Canadian investors with a regulated and efficient way to gain exposure to bitcoin.
• The iShares Bitcoin ETF is backed by the U.S.-listed iShares Bitcoin Trust ETF, the world's largest spotbitcoin exchangetraded product, which adds credibility and security to the investment.
• This launch marks a significant milestone in RBC's digital assets program, showcasing its commitment to product innovation and responsiveness to the evolving investment landscape.
• The management fee for the iShares Bitcoin ETF is set at a competitive 0.32%, making it a cost-effective option for investors.

Potential Negatives

• The iShares Fund's operational structure heavily relies on U.S. IBIT, exposing Canadian investors to the risks and volatility associated with an external entity's performance and market conditions.
• The fund's management fee of 0.32% may be considered high compared to similar investment products, potentially deterring cost-sensitive investors.
• The complexity of the ETF's structure, which involves indirect investment and multiple layers of fees, could confuse investors and impact their overall returns negatively.

FAQ

What is the iShares Bitcoin ETF?

The iShares Bitcoin ETF (IBIT) is a fund that aims to mirror the performance of bitcoin in Canada.

When was the iShares Bitcoin ETF launched?

The iShares Bitcoin ETF was officially launched on January 13, 2025.

Who manages the iShares Bitcoin ETF?

The iShares Bitcoin ETF is managed by BlackRock Asset Management Canada Limited, a subsidiary of BlackRock, Inc.

How does the iShares Bitcoin ETF work?

The ETF invests in the U.S.-listed iShares Bitcoin Trust ETF, providing exposure to bitcoin without holding it directly.

What are the management fees for the iShares Bitcoin ETF?

The management fee for the iShares Bitcoin ETF is 0.32% per annum of the fund's daily net asset value.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$BLK Congressional Stock Trading

Members of Congress have traded $BLK stock 1 times in the past 6 months. Of those trades, 0 have been purchases and 1 have been sales.

Here’s a breakdown of recent trading of $BLK stock by members of Congress over the last 6 months:

• REPRESENTATIVE JOHN JAMES sold up to $15,000 on 09/04.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$BLK Insider Trading Activity

$BLK insiders have traded $BLK stock on the open market 62 times in the past 6 months. Of those trades, 0 have been purchases and 62 have been sales.

Here’s a breakdown of recent trading of $BLK stock by insiders over the last 6 months:

• CHRISTOPHER J. MEADE (General Counsel and CLO) has traded it 9 times. They made 0 purchases and 9 sales, selling 18,000 shares.
• MARK WIEDMAN (Senior Managing Director) has traded it 18 times. They made 0 purchases and 18 sales, selling 99,190 shares.
• ROBERT L. GOLDSTEIN (Chief Operating Officer) has traded it 10 times. They made 0 purchases and 10 sales, selling 54,000 shares.
• LAURENCE FINK (Chairman and CEO) has traded it 17 times. They made 0 purchases and 17 sales, selling 78,150 shares.
• J. RICHARD KUSHEL (Senior Managing Director) has traded it 6 times. They made 0 purchases and 6 sales, selling 14,000 shares.
• PAMELA DALEY has traded it 2 times. They made 0 purchases and 2 sales, selling 1,531 shares.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$BLK Hedge Fund Activity

We have seen 721 institutional investors add shares of $BLK stock to their portfolio, and 1,094 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• PATHWAY FINANCIAL ADVISERS, LLC added 1,044,962 shares (+89389.4%) to their portfolio in Q3 2024
• INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC removed 792,632 shares (-100.0%) from their portfolio in Q4 2024
• CAPITAL WORLD INVESTORS added 785,535 shares (+24.4%) to their portfolio in Q3 2024
• HARRIS ASSOCIATES L P removed 726,912 shares (-100.0%) from their portfolio in Q3 2024
• ENVESTNET ASSET MANAGEMENT INC removed 685,456 shares (-100.0%) from their portfolio in Q3 2024
• AMUNDI removed 531,293 shares (-100.0%) from their portfolio in Q3 2024
• MAYFLOWER FINANCIAL ADVISORS, LLC removed 414,316 shares (-99.6%) from their portfolio in Q3 2024

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release

TORONTO, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Today, RBC iShares expands access to BlackRock’s digital asset investment platform with the launch of the iShares Bitcoin ETF (

IBIT

) (

the iShares Fund

) in Canada. The iShares Fund seeks to reflect generally the performance of the price of bitcoin, before payment of the iShares Fund’s expenses and liabilities. The iShares Bitcoin ETF will also be available in a U.S.-dollar denominated class (

IBIT.U

).

The iShares Fund invests in the U.S.-listed iShares Bitcoin Trust ETF (

U.S. IBIT

), the world’s largest spotbitcoin exchangetraded product.

¹

U.S. IBIT is managed by BlackRock, the world’s largest asset manager, and leverages a multi-year technology integration developed with Coinbase Prime, the world’s largest institutional digital asset custodian.

²

By holding U.S. IBIT, the iShares Bitcoin ETF is underpinned by the same institutional grade technology and risk management expertise used for iShares’ 1,400+ ETFs globally. The launch of the iShares Bitcoin ETF is another key milestone in the firm’s digital assets program, bringing BlackRock’s product innovation and access to bitcoin to Canadian investors.

“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,” said

Helen Hayes, Head of iShares Canada, BlackRock.

The iShares Fund has now closed the initial offering of its units, and the units will be listed on Cboe Canada when markets open today.

The iShares Fund will be managed by BlackRock Asset Management Canada Limited (

BlackRock Canada

), an indirect wholly-owned subsidiary of BlackRock, Inc.

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 truly differentiated ETF experience and positive outcomes for clients.

For more information about RBC iShares, please visit

https://www.rbcishares.com

.

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit


www.blackrock.com/corporate


.

About iShares ETFs

iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1400+ exchange traded funds (ETFs) and US$4.2 trillion in assets under management as of September 30, 2024, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.

iShares® ETFs are managed by BlackRock Asset Management Canada Limited.

About RBC

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 98,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 18 million clients in Canada, the U.S. and 27 other countries. Learn more at

rbc.com

.

We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at

rbc.com/peopleandplanet

.

About RBC Global Asset Management

RBC Global Asset Management

(“RBC GAM”) is the asset management division of Royal Bank of Canada (RBC). RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. RBC Funds, BlueBay Funds, PH&N Funds and RBC ETFs are offered by RBC Global Asset Management Inc. (“RBC GAM Inc.”) and distributed through authorized dealers in Canada. The RBC GAM group of companies, which includes RBC GAM Inc. (including PH&N Institutional) and RBC Indigo Asset Management Inc., manage approximately $680 billion in assets and have approximately 1,600 employees located across Canada, the United States, Europe and Asia.

RBC iShares ETFs are comprised of RBC ETFs managed by RBC Global Asset Management Inc. and iShares ETFs managed by BlackRock Asset Management Canada Limited. Commissions, trailing commissions, management fees and expenses all may be associated with investing in ETFs. Please read the relevant prospectus before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional.

® / TM Trademark(s) of Royal Bank of Canada. Used under license. iSHARES is a registered trademark of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. Used under license. © 2025 BlackRock Asset Management Canada Limited and RBC Global Asset Management Inc. All rights reserved.

Contact for Media:



Sydney Punchard


Email:

Sydney.Punchard@blackrock.com

¹

Based on US$53 billion in assets under management as of December 31, 2024. Currently, the iShares Fund will, directly or indirectly, invest all or substantially all of its assets in U.S. IBIT.



²

Coinbase Prime is a full-service prime broker of Coinbase, Inc., which is an affiliate of U.S. IBIT’s custodian with US$137 billion in institutional assets under custody as of October 30, 2024.



³

As an annualized percentage of the iShares Fund’s daily net asset value. If applicable, BlackRock Canada or an affiliate is entitled to receive a fee for acting as manager of each iShares ETF in which the iShares Fund may invest (an “

underlying product fee

” and together with the management fee payable to BlackRock Canada, the “

total annual fee

”). As the underlying product fees are embedded in the market value of the iShares ETFs in which the iShares Fund may invest, any underlying product fees are borne indirectly by the iShares Fund. BlackRock Canada will adjust the management fee payable to it by the iShares Fund to ensure that the total annual fees paid directly or indirectly to BlackRock Canada and its affiliates by the iShares Fund will not exceed the percentage of the NAV set out above. The total annual fee is exclusive of HST. Any underlying product fees borne indirectly by the iShares Fund are calculated and accrued daily and are paid not less than annually.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.