BlackRock Canada Launches Two New ETFs Including Bitcoin Portfolio
The new funds include the iShares Equity + Bitcoin ETF Portfolio and the iShares Core MSCI All-International Equity Index ETF.
Quick Look
BlackRock Canada launched two exchange-traded funds on the Toronto Stock Exchange on Monday: an equity portfolio with a 3% Bitcoin allocation and an international equity index ETF.
AI-generated summary
Why It Matters
BlackRock manages multiple iShares ETFs globally and operates spot Bitcoin trusts in the US.
BlackRock Canada launched two exchange-traded funds Monday, including a portfolio that combines globally diversified equities with a 3% allocation to Bitcoin.
The two funds, which began trading on the Toronto Stock Exchange, are the iShares Equity + Bitcoin ETF Portfolio (IBQT) and the iShares Core MSCI All-International Equity Index ETF (XINT).
IBQT allocates 97% of its portfolio to Canadian, US, international and emerging-market equities and 3% to Bitcoin (BTC) exposure through BlackRock’s Canadian iShares Bitcoin ETF (IBIT), which trades on Cboe Canada. Rather than investing in individual stocks, IBQT primarily holds other iShares ETFs to provide its equity and Bitcoin exposure.
XINT tracks the MSCI ACWI ex North America IMI Index, providing exposure to more than 5,000 companies across as many as 40 developed and emerging markets outside Canada and the US.
Both funds are managed by BlackRock Asset Management Canada through the RBC iShares alliance. BlackRock said its iShares business managed about $6.2 trillion in assets across more than 1,700 ETFs as of June 30.
The asset management giant’s US-listed iShares Bitcoin Trust (IBIT) is the largest US spot Bitcoin ETF by assets under management, with about $47.9 billion in AUM, according to CoinMarketCap data.
Open Questions
- What will be the initial trading volume for IBQT and XINT?
