Product Details: BlackRock's First Bitcoin ETP in Europe
BlackRock, the world's largest asset manager with over $10 trillion under management, has launched its first bitcoin product in Europe: a physically-backed bitcoin exchange-traded product (ETP). The iShares Bitcoin ETP began trading Tuesday on Germany's Xetra exchange and Euronext exchanges in Paris and Amsterdam. It trades under the ticker IB1T on Xetra and Euronext Paris, and as BTCN on Euronext Amsterdam.
The ETP carries a management fee of 0.25%, reduced to 0.15% through a temporary fee waiver valid until year-end 2025. Custody is provided by Coinbase. While crypto ETPs have existed in Europe for years, they have lagged U.S. bitcoin ETFs in assets under management. BlackRock's entry brings unparalleled scale and distribution power to the European market.
From Skepticism to Embrace: BlackRock Drives Bitcoin Mainstreaming
BlackRock's U.S. bitcoin ETF, the iShares Bitcoin Trust (IBIT), launched last year and has attracted over $50 billion in assets, making it the largest spot bitcoin ETF globally. CEO Larry Fink, who had previously voiced skepticism about bitcoin, has warmed to the asset amid surging client demand. By launching a European ETP, BlackRock gives institutional investors in the region exposure to bitcoin's price performance in a familiar, regulated wrapper.
As the largest asset manager globally with over $10 trillion under management, BlackRock brings significant scale and distribution power. The move signals growing mainstream embrace of bitcoin as an emerging institutional asset class. While European crypto ETPs have existed for years, BlackRock's entry is expected to boost liquidity and catalyze further institutional adoption across the continent.