With the New Nasdaq-Listed BlackRock Spot Bitcoin ETF, Investors Can Access Bitcoin with Convenience

On Jan. 11, 2024, BlackRock launched its first-ever spot bitcoin ETF. Market participants are now able to access Bitcoin with convenience and quality through the iShares Bitcoin Trust ETF (IBIT), now trading on Nasdaq. 

At the recent Nasdaq and BlackRock bell-ringing ceremony, Kevin Kennedy, who leads Nasdaq’s North American Markets, lauded the newly launched IBIT.

“Through the ETF wrapper, investors can now access bitcoin cost-effectively and conveniently. IBIT helps to remove some of the obstacles and operational burdens that may prevent asset managers and financial advisors from directly investing in bitcoin,” Kennedy said.

“At iShares, we are relentless in our pursuit of better ways to invest,” said Samara Cohen, chief investment officer of ETF and index investments at BlackRock, also speaking at the ceremony. “This is a moment of access for investors who want to invest in bitcoin through the convenience of an ETF.”

Kennedy also drew attention to Nasdaq’s partnership with BlackRock in bringing about this new product. “Nasdaq has been synonymous with innovation within the financial markets, and we are so proud to be part of such a historic moment in our partnership with BlackRock.”

Throughout its history, Nasdaq has spurred innovation in the financial markets to support issuers as they raise capital. The new bitcoin ETF is the next phase of that journey. This fund provides a regulated and convenient vehicle for investing in this new and unique asset class.

iShares has helped over 43 million investors easily access markets for more than two decades, with over 1,300 ETFs worldwide and more than ​​$3.12 trillion in assets under management.

IBIT will seek to track bitcoin performance, enabling investors to gain exposure to the asset class at the convenience of an ETF wrapper. The ETF has a 0.25% sponsor fee, with a one-year waiver reducing the fee to 0.12% on the first $5 billion in assets under management.¹ 

Dominik Rohe, Head of Americas ETF and Index Investing Business at BlackRock said in a press release that the launch was a significant advancement in ETF innovation. 

“For the first time, investors will be able to incorporate bitcoin in a consistent, convenient, and cost-effective way alongside other asset classes like stocks and bonds in their brokerage account,” Rohe said. 

In the same release, Robert Mitchnick, Global Head of Digital Assets at BlackRock, explained that the new ETF was “a natural progression of our efforts over multiple years and builds on the foundational capabilities we’ve established to date in the digital assets space.”

Watch a recap of Nasdaq’s recent Bell Ceremony with BlackRock celebrating the iShares Bitcoin Trust ETF ($IBIT) here:

^{1.  BlackRock will waive a portion of the Sponsor’s Fee for the first 12 months commencing on Jan. 11, 2024, so that the fee will be 0.12% of the net asset value of the Trust for the first $5.0 billion of the Trust’s assets. If the fund exceeds $5.0 billion of the Trust’s assets prior to the end of the 12-month period, the sponsor fee charged on assets over $5.0 billion will be 0.25%. All investors will incur the same sponsor’s fee, which is the weighted average of those fee rates. After the 12-month waiver period is over, the sponsor’s fee will be 0.25%.}