Q: Hi,
When answering questions where you recommend IBIT you mention (Canadian version). Can you explain why?
Thanks
When answering questions where you recommend IBIT you mention (Canadian version). Can you explain why?
Thanks
5i Research Answer:
Blackrock has its main bitcoin ETF product, IBIT, which is the US ETF. It is the most liquid Bitcoin ETF across the globe ($96B in AUM).
But, Blackrock has also launched IBIT denominated in Canadian dollars, which has $0.4B in AUM, and solely holds the US IBIT ETF. It has a slightly higher MER than the US version, but for Canadian investors that have Canadian dollars instead of USD, this can help with conversion fees.
The main reason we mentioned the Canadian version in recent questions is as those members specifically asked for Canadian ETFs.
Authors of this answer, directors, partners and/or officers of 5i Research and/or affiliated companies have a financial or other interest in IBIT.