BlackRock Enters Canadian Crypto Market with New ETFs
BlackRock Canada has launched two new exchange-traded funds (ETFs) on the Toronto Stock Exchange. The iShares Equity + Bitcoin ETF Portfolio (IBQT) and the iShares Core MSCI All-International Equity Index ETF (XINT) began trading on Monday.
The IBQT fund allocates 97% of its portfolio to globally diversified equities, including Canadian, US, international, and emerging-market stocks. The remaining 3% is dedicated to Bitcoin exposure through the BlackRock Canadian iShares Bitcoin ETF (IBIT), which trades on Cboe Canada.
BlackRock's IBQT fund primarily holds other iShares ETFs to provide its equity and Bitcoin exposure. In contrast, XINT tracks the MSCI ACWI ex North America IMI Index, offering exposure to over 5,000 companies across more than 40 developed and emerging markets outside Canada and the US.
Both funds are managed by BlackRock Asset Management Canada through the RBC iShares alliance. As of June 30, BlackRock's iShares business managed approximately $6.2 trillion in assets across over 1,700 ETFs. The asset management giant's US-listed iShares Bitcoin Trust (IBIT) holds about $47.9 billion in assets under management.