BlackRock Canada launches ETF with 3% Bitcoin allocation

BlackRock Canada has launched an exchange-traded fund that combines global equities with a 3% Bitcoin allocation, giving Canadian investors both exposures through one TSX-listed product.

IBQT targets 97% equities and 3% Bitcoin through underlying iShares ETFs. The fund began trading on the Toronto Stock Exchange with a 0.22% management fee. BlackRock also launched XINT, covering more than 5,000 companies outside North America. BlackRock's U.S. Bitcoin ETF attracted about $693 million last week.

The iShares Equity + Bitcoin ETF Portfolio, trading under the ticker IBQT, began trading on the Toronto Stock Exchange on Aug. 10.

IBQT targets a strategic allocation of 97% to equities and 3% to Bitcoin. Its stock exposure covers Canadian, U.S., international and emerging markets, according to BlackRock.

Rather than buying individual shares or holding Bitcoin directly, the portfolio invests mainly in other iShares ETFs. Its Bitcoin exposure comes through BlackRock's Canadian iShares Bitcoin ETF, also called IBIT, which began trading on Cboe Canada in January 2025.

The structure lets investors obtain diversified stock and Bitcoin exposure through one listed security. BlackRock set IBQT's annual management fee at 0.22%, including fees charged by its underlying ETFs.

"The launch of these two funds underscores our continued commitment to expanding access to investing for Canadians through low-cost, one-ticker solutions," Steven Leong, head of Canada product and iShares at BlackRock, said in the announcement.

BlackRock Canada also introduced the iShares Core MSCI All-International Equity Index ETF under the ticker XINT. The fund carries an annual management fee of 0.23%.

XINT tracks the MSCI ACWI ex North America IMI Index, which includes more than 5,000 large-, mid- and small-cap companies across over 40 developed and emerging markets.

The portfolio excludes Canada and the United States, making it a potential building block for Canadian investors who already hold North American stocks but want broader international exposure.

Both funds 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.

IBQT extends BlackRock's move beyond standalone spot Bitcoin ETFs toward funds that combine crypto exposure with traditional investment strategies.

In June, the asset manager launched its Bitcoin income ETF BITA in the United States. BITA invests mainly in BlackRock's U.S.-listed iShares Bitcoin Trust and sells covered call options to generate monthly income.

IBQT takes a more conservative approach. Bitcoin represents only 3% of the target portfolio, meaning the fund's performance will remain primarily tied to global equity markets. However, changes in Bitcoin's price could still raise or reduce the crypto share between portfolio rebalancing periods.

The fund also exposes investors indirectly to the fees, volatility and market risks attached to the underlying Canadian Bitcoin ETF. BlackRock states that ETF values can change frequently and are not guaranteed.

BlackRock's U.S.-listed iShares Bitcoin Trust remains the largest American spot Bitcoin ETF by assets. Its scale provides a comparison for the asset manager's more limited Canadian allocation strategy.

U.S. spot Bitcoin ETFs attracted about $853.5 million over five consecutive sessions from Aug. 3 through Aug. 7. BlackRock's IBIT accounted for an estimated $693 million, or roughly 81% of the total.

IBQT is listed in Canada and is therefore separate from BlackRock's U.S. products. Its launch nevertheless shows how regulated Bitcoin exposure is moving into broader portfolio funds rather than remaining limited to standalone crypto investment vehicles.

The product's 3% target also limits Bitcoin's influence compared with a spot ETF, while allowing investors to maintain exposure if the asset rises. Future demand will show whether Canadian investors favor this pre-set allocation over holding equity and Bitcoin funds separately.

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