BlackRock Canada Launches Bitcoin-Backed ETF With 3% Allocation

BlackRock Canada has expanded its investment offerings in Canada with two new ETFs. One of them, the iShares Equity+Bitcoin ETF Portfolio (IBQT), holds a unique combination of globally diversified equities and bitcoin exposure.

The IBQT portfolio allocates 97 percent to Canadian, U.S., international, and emerging market equities through various iShares ETFs. A 3 percent weighting is reserved for bitcoin via BlackRock Canada's iShares Bitcoin ETF (IBIT).

This is not the first time BlackRock has ventured into the crypto space, as its U.S.-listed iShares Bitcoin Trust (IBIT) holds around $47.9 billion in assets under management, making it the largest U.S. spot bitcoin ETF by AUM.