© Reuters.
NEW YORK – BlackRock (NYSE:), Inc., the world's largest asset manager, announced the launch of iShares Trust (IBIT), scheduled to begin trading on Nasdaq tomorrow. The U.S. Securities and Exchange Commission (SEC) has declared the spot Bitcoin ETF registration statement effective, marking a significant milestone for investors seeking to participate in the cryptocurrency market through a regulated exchange-traded fund.
The aim of the iShares Bitcoin Trust is to provide investors with a cost-effective and convenient way to track the price of Bitcoin. Dominik Rohe, Head of Americas iShares ETF and Index Investing Business at BlackRock, explained that IBIT addresses some of the challenges and operational burdens that have previously discouraged investors from investing directly in Bitcoin.
BlackRock's iShares has more than two decades of experience and offers more than 1,300 ETFs worldwide. The company manages $3.12 trillion in assets as of September 30, 2023 and has facilitated market access for over 43 million investors worldwide.
The value of the trust is closely linked to Bitcoin adoption, industry developments and governance changes. It is subject to the extreme volatility inherent in digital asset markets and the risks associated with the loss, theft or compromise of private keys. BlackRock emphasizes that the Trust's security procedures are designed to protect its assets, but there is no guarantee that they will be effective against all potential threats.
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