BlackRock Australia is preparing to launch its first Bitcoin exchange-traded fund (ETF) this November, providing Australian investors with a simple, regulated way to gain exposure to the world’s leading cryptocurrency. The iShares Bitcoin ETF (IBIT) is scheduled to list on the Australian Securities Exchange (ASX) in mid-November 2024. With a management fee of 0.39%, the new fund allows investors to gain Bitcoin exposure without the need to directly buy or store the digital asset.
This move represents a significant step forward in BlackRock’s strategy to make cryptocurrency investments more accessible to both retail and institutional investors in Australia.
A New Way for Australians to Invest in Bitcoin
The iShares Bitcoin ETF (IBIT) will be backed by the US$85 billion iShares Bitcoin Trust, launched by BlackRock in the U.S. in January 2024. This large-scale trust ensures that IBIT is supported by robust infrastructure, deep liquidity, and institutional-grade security, all backed by BlackRock’s global expertise.
According to Tamara Stats, Director at BlackRock Australasia, the launch of IBIT highlights the growing demand for Bitcoin as a portfolio diversifier. She explained that many institutional investors are increasingly turning to digital assets to strengthen their portfolios and hedge against traditional market risks.
Steve Ead, Head of Global Product Solutions at BlackRock, emphasized that IBIT leverages the firm’s global infrastructure to provide Australian investors with a trusted and easy-to-navigate crypto investment vehicle.
BlackRock Continues ETF Expansion Amid Global Growth
The launch of IBIT marks another milestone in BlackRock’s ongoing expansion of its ETF offerings. Just two weeks prior, BlackRock introduced its iShares Core Global Aggregate Bond ETF, underlining the company’s commitment to providing a diverse range of investment solutions. BlackRock’s iShares platform has now surpassed US$5 trillion in assets, making it one of the world’s largest and most trusted ETF providers.
The iShares Bitcoin ETF provides a way for investors to tap into the growing popularity of digital assets while benefiting from BlackRock’s established reputation for safety, transparency, and regulatory compliance. It is expected that IBIT will become a popular choice among investors looking for exposure to Bitcoin, as well as those seeking to navigate the emerging world of crypto assets with a trusted financial partner.
