BlackRock Bringing Bitcoin ETF To Australia With Imminent Crypto Fund Launch: Report

The world’s largest asset manager is reportedly bringing its Bitcoin (BTC) exchange-traded fund (ETF) to Australia.

BlackRock is eyeing its iShares Bitcoin ETF (IBIT) to list on the Australian Securities Exchange (ASX) by mid-November with a management fee of 0.39 percent, reports Money Management.

The move would allow local investors to access Bitcoin sans the complexities of directly holding the flagship crypto asset.

Says Steve Ead, BlackRock Australasia’s head of global product solutions,

“IBIT offers Australian investors a familiar ETF wrapper to access Bitcoin, drawing on BlackRock’s global scale and infrastructure. By making IBIT available on the ASX, we’re focused on broadening access and democratising investment opportunities for more Australians.”

Last month, Bloomberg senior ETF analyst Eric Balchunas said  IBIT is now BlackRock’s most profitable exchange-traded fund, generating $244.5 million in annual revenue. The financial product set the record less than two years following its January 2024 launch in the US.

The spot Bitcoin ETF is $25 million more profitable than BlackRock’s iShares Russell 1000 Growth ETF (IWF) and iShares MSCI EAFE ETF (EFA), which have both been around for more than two decades.

“$IBIT a hair away from $100 billion, is now the most profitable ETF for BlackRock by a good amount now based on current AUM.”

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