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BlackRock’s Bitcoin ETF Launches on Cboe Canada, Potentially Driving BTC Prices to $120,000
In a significant milestone for the cryptocurrency market, BlackRock has successfully launched its iShares Bitcoin ETF (IBIT) on the Cboe Canada platform. This move is expected to further expand accessibility and investment opportunities in Bitcoin, one of the most popular cryptocurrencies.
The newly listed IBIT ETF will allow Canadian investors to gain exposure to Bitcoin’s price performance without having to directly own the digital asset. By allocating most of its assets to the U.S.-based iShares Bitcoin Trust ETF, IBIT aims to provide a cost-effective and operationally simple alternative to direct Bitcoin ownership. This approach helps eliminate complexities associated with custody and security.
The launch of IBIT underscores the growing acceptance of Bitcoin as an investment class in Canada. As the eighth listing on Cboe Canada, this development further solidifies the platform’s role in fostering crypto accessibility and growth.
Notably, BlackRock has now expanded its presence into Canada, building upon the success of its U.S.-based iShares Bitcoin Trust ETF, which has attracted over $37 billion in net inflows since its January 2024 launch. The global momentum behind Bitcoin ETFs has seen U.S. Bitcoin ETFs collectively pull in more than $35 billion last year.
With this new development, Canadian investors are now equipped with a convenient means to participate in the rapidly growing cryptocurrency market. BlackRock’s leadership position in the evolving digital asset landscape is further reinforced by its innovative approach and commitment to educating the masses about the potential of blockchain technology.
As a result, some market analysts predict that Bitcoin prices may surge to $120,000 in response to this increased accessibility and growing institutional investment interest.
Source: www.crypto-news-flash.com
