BlackRock Australia is set to introduce its first Bitcoin exchange-traded fund (ETF) later this month, giving investors regulated exposure to the world’s largest cryptocurrency. The iShares Bitcoin ETF (IBIT) will list on the ASX in mid-November with a management fee of 0.39%, providing advisers and investors an easy way to invest in Bitcoin without holding it directly.
The ETF will be backed by the US$85 billion US-listed iShares Bitcoin Trust, launched in January 2024. BlackRock Australasia’s director Tamara Stats said the launch highlights growing institutional demand for Bitcoin as a portfolio diversifier. Steve Ead, head of global product solutions, added that IBIT uses BlackRock’s global infrastructure to make crypto investing more accessible for Australians.
This marks BlackRock’s second ETF launch in two weeks, following the announcement of its iShares Core Global Aggregate Bond ETF. The firm continues to see strong global ETF inflows, with iShares assets now exceeding US$5 trillion.