iShares Bitcoin Trust ETF

The iShares Bitcoin Trust ETF is an exchange-traded product offered under BlackRock's iShares brand that holds bitcoin directly. According to the issuer, its aim is to reflect the performance of the bitcoin price; the CME CF Bitcoin Reference Rate - New York Variant is used as the reference price for valuation. Its shares trade on Nasdaq under the ticker IBIT.

Structurally, IBIT is set up not as an equity fund but as a trust. The issuer states clearly that the product is not an investment company registered under the Investment Company Act in the US and therefore does not have the same protections as funds subject to that law. The trust's assets consist mainly of bitcoin; according to the prospectus, this bitcoin is held with custodians, led by Coinbase Custody. The investor acquires a product linked to the bitcoin price through a brokerage account, without managing a digital wallet or private keys.

IBIT's price is directly tied to the market price of bitcoin; therefore, volatility in the crypto market, regulatory developments and fund inflows and outflows are decisive. The market price may at times diverge from the trust's net asset value (NAV). The IBIT page on Lzzo.com shows the US dollar price, the option to convert into Turkish lira, euros and pounds sterling, a historical chart and technical indicators, and where and when the data was retrieved.