BlackRock, the world’s largest asset manager, is launching its first Bitcoin ETP (exchange-traded product) in Europe, expanding its presence in the crypto investment space.
This move follows the success of its US-listed spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), which has accumulated $50.6 billion in assets under management (AUM).
BlackRock to List Bitcoin ETP in Europe
The new iShares Bitcoin ETP will be available for trading on Xetra and Euronext Paris under the ticker IB1T and on Euronext Amsterdam as BTCN.
The expansion into Europe marks BlackRock’s first crypto-backed ETP offering outside North America. This suggests growing institutional interest in digital assets.
To encourage early adoption, BlackRock is offering a temporary fee waiver, reducing the expense ratio of the ETP to 0.15% until the end of the year. This makes the product one of the most cost-effective Bitcoin ETPs in the European market. It could attract both retail and institutional investors looking for exposure to digital assets at a competitive price.
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