BlackRock, the world’s largest asset manager, has launched its first Bitcoin Exchange-Traded Product (ETP) in Europe, marking a significant expansion of its cryptocurrency offerings.
The iShares Bitcoin ETP, trading under the ticker symbols “IB1T” and “BTCN,” is now available on major European stock exchanges, including Euronext Paris, Euronext Amsterdam, and Xetra. This move follows the success of BlackRock’s U.S. Bitcoin ETF, which has amassed over $50 billion in assets under management.
The European launch is seen as a strategic response to growing institutional and retail demand for cryptocurrency investment products. The ETP allows investors to gain exposure to Bitcoin’s price movements without the complexities of owning or managing digital wallets. Backed by Bitcoin held in cold storage through Coinbase Custody, the product aims to provide institutional-grade security.
BlackRock’s entry into the European market comes at a time when the region’s cryptocurrency ETP market is experiencing rapid growth. With over 160 crypto-linked products currently trading on European exchanges, the market has reached $13 billion in net assets. The introduction of the iShares Bitcoin ETP is expected to enhance liquidity and attract a broader investor base.
The launch aligns with BlackRock’s broader strategy to expand its $1 trillion European market share and increase its customer base from 9 million to 19 million over the next three years. Manuela Sperandeo, BlackRock’s Head of iShares Product for Europe and the Middle East, described the launch as a “tipping point” for the industry, reflecting the growing integration of traditional finance with digital assets.
The product’s competitive pricing, with a temporary fee waiver reducing the expense ratio to 0.15%, positions it as one of the most cost-effective options for European investors. Analysts believe this move will further legitimize Bitcoin as a mainstream investment asset and encourage broader adoption.
Shogun Lin
