BlackRock, the world's largest wealth management firm, has launched a new Bitcoin ETF at CBOE Canada.

According to the CBOE press He releasesBlackRock launched iShares Bitcoin (Bitcoin) is an exchange-traded fund to provide institutionally managed BTC exposure to Canadian investors.

BlackRock already runs the largest U.S. spot bitcoin investment fund, known as IBIT, which has been crowned the fastest-growing fund in history, surpassing $52 billion in investor capital during its first year.

Commenting on the launch, Helen Hayes, head of iShares Canada at BlackRock, said offering a local product will simplify holding Bitcoin through a “convenient and cost-effective” channel.

Rob Marrocco, global head of ETF listings at CBOE, echoed Hayes' sentiments, stressing that IBIT's expansion into Canada will meet growing investor demand for exposure to cryptocurrencies.

Investors are increasingly seeking exposure to cryptocurrencies through exchange-listed covers, and Cboe intends to meet this demand by leveraging our global listing capabilities and derivatives expertise to expand market access and grow the crypto ecosystem with new products. We are thrilled to be working with BlackRock and look forward to supporting their success on a global scale through our global network of listings.”

Rob Marrocco, Global Head of ETF Listings at CBOE

The launch marks one of the first spot bitcoin ETFs to enter the Canadian market. In the US, the spot Bitcoin ETF pool has amassed $107 billion in assets under management.

While the Canadian market is unlikely to match this scale, BlackRock's decision could bring more institutional capital into Bitcoin through local investment channels. In addition to Canada, BlackRock offers Bitcoin products in Other markets Like Brazil. The company's expansion reflects growing global interest in Bitcoin and cryptocurrencies as alternative asset classes amid inflation and uncertainty in traditional financial markets.