TLDR
- BlackRock launched IBQT on Toronto Stock Exchange with a target allocation of 97% equities and Bitcoin.
- IBQT provides 3% Bitcoin exposure through BlackRock’s Canadian iShares Bitcoin ETF instead of direct holdings.
- The new fund charges a 0.22% annual management fee, including costs from underlying iShares ETFs.
- BlackRock also launched XINT, tracking more than 5,000 companies across over 40 international markets.
- XINT excludes Canada and United States equities, providing exposure to developed and emerging international markets.
BlackRock has launched two exchange-traded funds on the Toronto Stock Exchange, including a portfolio that combines global equities with a 3% allocation to Bitcoin.
The iShares Equity + Bitcoin ETF Portfolio, trading under the ticker IBQT, began trading on August 10. BlackRock also launched the iShares Core MSCI All-International Equity Index ETF, known as XINT, giving Canadian investors exposure to international markets outside Canada and the United States.
BlackRock Launches IBQT With 3% Bitcoin Allocation
IBQT targets a portfolio allocation of 97% equities and 3% Bitcoin exposure. The equity portion covers Canadian, U.S., international and emerging markets through other iShares ETFs rather than direct holdings of individual companies.
The Bitcoin portion comes through BlackRock’s Canadian iShares Bitcoin ETF, which trades on Cboe Canada. IBQT therefore provides Bitcoin exposure through an existing ETF instead of holding Bitcoin directly.
BlackRock set the annual management fee for IBQT at 0.22%, including fees charged by the underlying ETFs. The fund’s structure gives investors exposure to equities and Bitcoin through a single listed security.
Bitcoin’s allocation can move away from the 3% target as market prices change between portfolio rebalancing periods. The fund remains mainly exposed to global equity markets because stocks represent the large majority of its target holdings.
XINT Expands International Equity Exposure
BlackRock Canada also launched XINT, which tracks the MSCI ACWI ex North America IMI Index. The index covers more than 5,000 large-, mid- and small-cap companies across more than 40 developed and emerging markets.
XINT excludes Canada and the United States, giving Canadian investors a way to add international equity exposure outside North American markets. The ETF carries an annual management fee of 0.23%.
Both IBQT and XINT are managed by BlackRock Asset Management Canada through the RBC iShares alliance. BlackRock said its iShares business managed about $6.2 trillion across more than 1,700 ETFs as of June 30.
Steven Leong, head of Canada product and iShares at BlackRock, said the launch reflected the firm’s commitment to “low-cost, one-ticker solutions” for Canadian investors.
BlackRock Expands Packaged Bitcoin Exposure
IBQT adds to BlackRock’s range of products that combine Bitcoin exposure with traditional investment strategies. The asset manager previously launched the Bitcoin Income ETF, known as BITA, in the United States.
BITA invests mainly in BlackRock’s U.S.-listed iShares Bitcoin Trust and uses covered call options as part of its income strategy. IBQT follows a different structure by keeping Bitcoin at a 3% target allocation alongside a broad equity portfolio.
The fund’s Bitcoin exposure also carries risks linked to the underlying Canadian Bitcoin ETF, including price volatility and changes in ETF values. BlackRock states that ETF values can fluctuate and are not guaranteed.
The launch gives Canadian investors access to a packaged portfolio combining global equities and Bitcoin through one exchange-traded product, while XINT provides a separate international equity option.
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