BlackRock, which manages over $13 trillion in assets, has announced the listing of its iShares Bitcoin ETF on the ASX, under the same ticker of IBIT. The fund will wrap BlackRock’s existing U.S. spot Bitcoin trust and offer it in Australian dollars.
The ETF is likely to list on the ASX by mid-November, offering Australian investors regulated exposure to Bitcoin. It is being reported that the fund will have a management fee of around 0.39%.
Why the delay in going down under
Entering Australia wasn’t straightforward. Regulatory frameworks for crypto exposure in traditional products have evolved only recently. BlackRock needed to ensure its ETF structure aligned with local rules around digital-asset products.
For example, it had to update according to the guidance from the Australian regulator, Australian Securities & Investments Commission (ASIC), and then reclassified digital asset services, to enter the market. The vehicle also required wrapping its U.S. ETF into the Australian market via the ASX, adding structural complexity.
Navigating Australia’s regulatory landscape
With IBIT listed locally, Australian investors, both retail and institutional, can get access to Bitcoin exposure without holding the asset directly, managing wallets, or even handling custody themselves. This lowers the barrier to entry and may accelerate flows into crypto-enabled investment products. Additionally, the move signals global asset managers are confident in the regulatory path in Australia, which may spur further crypto-ETFs or investment vehicles in the region.