Mentioned:
The biggest spot Bitcoin ETF in existence is now trading in Canada.
What’s happening:
- BlackRock has officially launched their iShares Bitcoin ETF on the Cboe Exchange in Canada for the first time
Why it matters:
- BlackRock is the single largest asset management company in the entire world and has also quickly become the most dominant player in spot Bitcoin ETFs in the United States of America
Going deeper:
- Spot Bitcoin ETFs have found massive adoption in the traditional public markets amongst pension funds, hedge funds and institutional capital throughout Wall Street since first being approved to launch
- The massive success of spot Bitcoin ETFs in the United States has also led to a flurry of new types of Bitcoin ETFs looking for regulatory approval, including ETFs that will invest strictly in companies who hold Bitcoin directly as an asset and ETFs that will look to invest into convertible bonds for companies who are raising capital for the sole purpose of buying more Bitcoin
The intrigue:
- The euphoria around Bitcoin ETFs has also even attracted Republican political leader Vivek Ramaswamy, who recently announced his asset management company would launch their own Bitcoin focused ETF
