Learn more about investing in bitcoin with iShares Bitcoin ETP.
Capital at risk. Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
Cryptoasset risk: Cryptoasset platforms may be at risk of being hacked or exploited and may involve significant risks due to a compromise of private keys, which may result in losses. Market disruption and government intervention can make digital assets illegal.
Bitcoin is the world’s most recognised and widely adopted cryptocurrency, and many investors want to learn more. Watch to learn the basics of Bitcoin, how it works and understand it's significance in our world today.
We've all heard about Bitcoin. But what exactly is Bitcoin?
Let's start at the beginning. Around 100,000 years ago.
Throughout history, we've used all kinds of objects to help make transactions and store value, from seashells to shiny metals to paper notes. That's because the value isn't just in the object itself, it's in how much we agree the object represents. So, the object can be many things, even, as it turns out, a string of digital code.
The internet changed everything. It connected the world, changing how we communicate, work, shop and manage finances. It also opened the door to a new kind of currency and asset. Enter Bitcoin, a digital currency not governed by banks or governments, but by its global community of users. And that provided new potential benefits.
Bitcoin exchanges happen person-to-person, anywhere in the world, in near real time and for near zero transaction costs. Saving money, time and opening financial opportunity to those without access to a banking system.
Bitcoin has a fixed supply of 21 million bitcoins. This hard coded rule controls supply, purchasing power and helps avoid the potential misuse of printing more and more currency, which can contribute towards inflation.
All transactions take place on a digital ledger called the blockchain. It's a digital platform to move value, where everyone can see every transaction.
Bitcoin is no longer seen as the radical idea it was 15 years ago. Over 500 million people around the world now use cryptocurrency, with over 50% holding or investing in Bitcoin, making it the most popular cryptocurrency by far. Some use Bitcoin to transfer value across borders and for purchases. Some see Bitcoin as an investment given its limited supply and uniqueness relative to other financial assets. And for those in certain countries, its value goes far deeper, potentially offering greater financial autonomy by serving as an alternative to local currencies.
Bitcoin is an emerging global monetary alternative. Time will tell how far adoption will go, but next time you see a seashell or shiny metal, think about how humans’ idea of 'money' has evolved throughout history.
To learn more about bitcoin as part of a portfolio visit: iShares.com/bitcoin
Risk Warnings
Capital at risk. The value of investments and the income from them can fall as well as rise and are not guaranteed. Investors may not get back the amount originally invested.
The price of bitcoin fluctuates daily and the value of bitcoin is driven by various factors including market liquidity. Cryptoassets can be subject to high pricing volatility and substantial fluctuations.
Past performance is not a reliable indicator of current or future results and should not be the sole factor of consideration when selecting a product or strategy.
Changes in the rates of exchange between currencies may cause the value of investments to diminish or increase. Fluctuation may be particularly marked in the case of a higher volatility fund and the value of an investment may fall suddenly and substantially. Levels and basis of taxation may change from time to time and depend on personal individual circumstances.
Regulatory Information
In the UK and Non-European Economic Area (EEA) countries: this is issued by BlackRock Advisors (UK) Limited, which is authorised and regulated by the Financial Conduct Authority. Registered office: 12 Throgmorton Avenue, London, EC2N 2DL, Tel: +44 (0)20 7743 3000. Registered in England and Wales No. 00796793. For your protection, calls are usually recorded. Please refer to the Financial Conduct Authority website for a list of authorised activities conducted by BlackRock.
Any research in this document has been procured and may have been acted on by BlackRock for its own purpose. The results of such research are being made available only incidentally. The views expressed do not constitute investment or any other advice and are subject to change. They do not necessarily reflect the views of any company in the BlackRock Group or any part thereof and no assurances are made as to their accuracy.
This document is for information purposes only and does not constitute an offer or invitation to anyone to invest in any BlackRock funds and has not been prepared in connection with any such offer.
© 2025 BlackRock, Inc. All Rights reserved. BLACKROCK, BLACKROCK SOLUTIONS and iSHARES are trademarks of BlackRock, Inc. or its affiliates. All other trademarks are those of their respective owners
EASY ACCESS
IB1T enables investors to buy and sell bitcoin through the familiar, easy-to-access, and liquid structure of an exchange-traded product, removing the complexities of trading bitcoin directly.
CONVENIENCE & SECURITY
IB1T extricates investors from the operational role in cryptocurrency custody and security. ETP wrappers benefit from economies of scale, which can lower costs for investors.1
ROBUST INFRASTRUCTURE
IB1T is managed by the world’s largest asset manager, working with institutional service providers such as Coinbase Prime, the world’s largest institutional digital asset custodian.2,3
Gain exposure to the world of bitcoin, leveraging the convenience, security and ease of integration provided by an iShares ETP.
Bitcoin has shown a unique behavior in portfolios over long time horizons due to its relatively low correlation with traditional assets like stocks and bonds.4 Therefore, holding a modest allocation of bitcoin can have a diversifying effect on portfolios.
A bitcoin ETP can allow investors to benefit from enhanced simplicity, security and ease of integration into professional portfolios. Traded on traditional stock exchanges, ETPs are available for investors to buy and sell just like any other stock or ETF. The issuer arranges the security and storage of the underlying bitcoin, removing the need for investors to store bitcoin or manage crypto wallets and private keys.
Currently, cryptoasset products cannot be launched in EMEA as UCITS ETFs. The UCITS Directive prohibits UCITS funds, including ETFs, from investing in physical commodities or cryptoassets. However, ETPs can hold cryptoassets and, like UCITS ETFs, are listed instruments that are bought and sold on exchanges.
Investing in a bitcoin ETP can provide benefits such as:
Bitcoin is a highly volatile asset exhibiting significant price swings in both directions since its inception in 2009 and may not be suitable for certain investors.5 Like any investment, there are inherent risks involved with investing in a spot bitcoin exchange-traded product and at large concentrations, bitcoin’s volatility can have a large impact on overall portfolio risk.
Bitcoin ETPs help alleviate some of the challenges of investing directly in bitcoin, such as storage. With a bitcoin ETP, investors own shares of the ETP, removing the need to determine where to store their bitcoin, as this is handled by the ETP's custodian. It is important to note, however, that investing in a bitcoin ETP still involves risk, including possible loss to principal.
To learn more read our bitcoin volatility guide to access insights for investors.
An ETP simplifies tax reporting by following traditional capital gains rules, meaning tax accounting and reporting is made simpler compared to direct bitcoin investing, which can be more complex with things like tracking cost basis or crypto payments. Investors should consult a tax or financial professional for more information on how they may be impacted by bitcoin tax laws.
IB1T provides accurate exposure to the price of bitcoin. While market forces can cause modest deviations between IB1T’s share price and its net asset value (NAV), its structure is designed to help minimize these differences.6
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iShares unlocks opportunity across markets to meet the evolving needs of investors. With more than twenty years of experience, iShares continues to drive progress for the financial industry. iShares funds are powered by the expert portfolio and risk management of BlackRock.
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1 Source: BlackRock, Global Business Intelligence, at at Jan. 31, 2025.
2 Source: BlackRock is the world’s largest asset manager by AUM, managing $11.6T as of Dec. 31, 2024.
3 Coinbase Prime is a full-service prime broker of Coinbase, Inc. which is an affiliate of the iShares Bitcoin Trust ETF custodian with $273B in safeguarded assets, as of Dec. 31. 2024
4 Source: BlackRock Investment Institute with data from Bloomberg, December 2024
5 Cryptoasset volatility risk: The price of bitcoin fluctuates daily and the value of bitcoin is driven by various factors including market liquidity. Cryptoassets can be subject to high pricing volatility and substantial fluctuations.
6 Source: IB1T’s premium (discount) may appear artificially inflated when bitcoin exhibits a strong upward (downward) price trend between 3 p.m. and 4 p.m. EST. This stems from a timing mismatch between the fund’s 4 p.m. EST close and the BRRNY index’s 3 p.m. to 4 p.m. observation window.
Important Information:
The ETP securities are not guaranteed. The value of the ETP securities may go down as well as up and you may lose some or all of your investment.
Investors who are not APs should be aware that they will not take delivery of any bitcoin as a result of buying or selling the ETP securities in the secondary market.
The ETP is intended for retail investors (i) with specific knowledge and/or experience of investing in similar products and with a solid understanding of the significant risks associated with cryptoassets including its associated volatility; (ii) seek a product offering exposure to the performance of the underlying asset(s); and (iii) that have the ability to bear losses up to the amount they have invested in the ETP. The ETP will not be suitable for retail investors that are unable to sustain a significant or complete loss of their investment.
Please refer to the prospectus, available on www.ishares.com, for more information on the ETP securities and the Issuer prior to investing.
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