BlackRock Canada's New ETF Dips Toes into Bitcoin with 3% Allocation
BlackRock Canada has ventured into cryptocurrency investing by launching IBQT, an exchange-traded fund (ETF) that allocates 3% of its portfolio to Bitcoin. The fund invests in a mix of equities from various markets, including Canada, the US, other international markets, and emerging markets.
The remaining 97% of the fund's assets are allocated to these traditional investments. Meanwhile, the 3% invested in Bitcoin is held through IBIT, BlackRock's Canadian Bitcoin ETF.
This development marks a significant step for BlackRock Canada in the cryptocurrency space and may reflect growing interest from institutional investors.