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RBC iShares Expands Access to BlackRock's Bitcoin ETP Platform

1. RBC iShares launches Bitcoin ETF in Canada, expanding BlackRock's digital asset access. 2. The fund seeks to reflect Bitcoin's price performance before expenses. 3. BlackRock manages the largest U.S. spot Bitcoin ETF, enhancing credibility. 4. The initiative targets Canadian investors looking for Bitcoin exposure. 5. iShares has over $4.2 trillion in assets managed, boosting investor confidence.

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Why Bullish?

The launch enhances BlackRock’s product offerings in a growing market, similar to past ETF successes boosting stock demand.

How important is it?

The launch of the Bitcoin ETF represents significant innovation and market positioning for BlackRock, which could drive future growth.

Why Long Term?

Broader adoption of crypto ETFs can positively alter investment landscapes over time, akin to past ETF trends.

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IBITU.S. IBIT
TORONTO, Jan. 13, 2025 (GLOBE NEWSWIRE) -- Today, RBC iShares expands access to BlackRock’s digital asset investment platform with the launch of the iShares Bitcoin ETF (IBIT) (the iShares Fund) in Canada. The iShares Fund seeks to reflect generally the performance of the price of bitcoin, before payment of the iShares Fund’s expenses and liabilities. The iShares Bitcoin ETF will also be available in a U.S.-dollar denominated class (IBIT.U). The iShares Fund invests in the U.S.-listed iShares Bitcoin Trust ETF (U.S. IBIT), the world’s largest spot bitcoin exchange traded product.1 U.S. IBIT is managed by BlackRock, the world’s largest asset manager, and leverages a multi-year technology integration developed with Coinbase Prime, the world’s largest institutional digital asset custodian.2 By holding U.S. IBIT, the iShares Bitcoin ETF is underpinned by the same institutional grade technology and risk management expertise used for iShares’ 1,400+ ETFs globally. The launch of the iShares Bitcoin ETF is another key milestone in the firm’s digital assets program, bringing BlackRock’s product innovation and access to bitcoin to Canadian investors. “The launch of the iShares Bitcoin ETF in Canada underscores BlackRock’s commitment to innovation and providing clients access to an expanding world of investments. The iShares Fund provides Canadian investors with a convenient and cost-effective way to gain exposure to bitcoin, and helps remove the operational and custody complexities of holding bitcoin directly,” said Helen Hayes, Head of iShares Canada, BlackRock. The iShares Fund has now closed the initial offering of its units, and the units will be listed on Cboe Canada when markets open today. The iShares Fund will be managed by BlackRock Asset Management Canada Limited (BlackRock Canada), an indirect wholly-owned subsidiary of BlackRock, Inc. Fund NameTickerManagement Fee3Listing DateiShares Bitcoin ETFIBIT, IBIT.U0.32%January 13, 2025 RBC iShares aims to help clients achieve their investment objectives by empowering them to build efficient portfolios and take control of their financial futures. RBC iShares is committed to delivering a truly differentiated ETF experience and positive outcomes for clients. For more information about RBC iShares, please visit https://www.rbcishares.com. About BlackRock         BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate. About iShares ETFs iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, a global line-up of 1400+ exchange traded funds (ETFs) and US$4.2 trillion in assets under management as of September 30, 2024, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock. iShares® ETFs are managed by BlackRock Asset Management Canada Limited. About RBC Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 98,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada’s biggest bank and one of the largest in the world, based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our more than 18 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com. We are proud to support a broad range of community initiatives through donations, community investments and employee volunteer activities. See how at rbc.com/peopleandplanet. About RBC Global Asset Management RBC Global Asset Management (“RBC GAM”) is the asset management division of Royal Bank of Canada (RBC). RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. RBC Funds, BlueBay Funds, PH&N Funds and RBC ETFs are offered by RBC Global Asset Management Inc. (“RBC GAM Inc.”) and distributed through authorized dealers in Canada. The RBC GAM group of companies, which includes RBC GAM Inc. (including PH&N Institutional) and RBC Indigo Asset Management Inc., manage approximately $680 billion in assets and have approximately 1,600 employees located across Canada, the United States, Europe and Asia. RBC iShares ETFs are comprised of RBC ETFs managed by RBC Global Asset Management Inc. and iShares ETFs managed by BlackRock Asset Management Canada Limited. Commissions, trailing commissions, management fees and expenses all may be associated with investing in ETFs. Please read the relevant prospectus before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. ® / TM Trademark(s) of Royal Bank of Canada. Used under license. iSHARES is a registered trademark of BlackRock, Inc., or its subsidiaries in the United States and elsewhere. Used under license. © 2025 BlackRock Asset Management Canada Limited and RBC Global Asset Management Inc. All rights reserved. Contact for Media: Sydney PunchardEmail: Sydney.Punchard@blackrock.com 1 Based on US$53 billion in assets under management as of December 31, 2024. Currently, the iShares Fund will, directly or indirectly, invest all or substantially all of its assets in U.S. IBIT.2 Coinbase Prime is a full-service prime broker of Coinbase, Inc., which is an affiliate of U.S. IBIT’s custodian with US$137 billion in institutional assets under custody as of October 30, 2024.3 As an annualized percentage of the iShares Fund’s daily net asset value. If applicable, BlackRock Canada or an affiliate is entitled to receive a fee for acting as manager of each iShares ETF in which the iShares Fund may invest (an “underlying product fee” and together with the management fee payable to BlackRock Canada, the “total annual fee”). As the underlying product fees are embedded in the market value of the iShares ETFs in which the iShares Fund may invest, any underlying product fees are borne indirectly by the iShares Fund. BlackRock Canada will adjust the management fee payable to it by the iShares Fund to ensure that the total annual fees paid directly or indirectly to BlackRock Canada and its affiliates by the iShares Fund will not exceed the percentage of the NAV set out above. The total annual fee is exclusive of HST. Any underlying product fees borne indirectly by the iShares Fund are calculated and accrued daily and are paid not less than annually.

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