BlackRock Launches Bitcoin ETP in Europe Amid Bullish Market Signals
BlackRock, the world’s largest asset manager, has introduced its iShares Bitcoin exchange-traded product (ETP) on several European stock exchanges, marking its first crypto ETP launch outside North America. The product began trading on March 25 on Xetra, Euronext Amsterdam, and Euronext Paris.
BlackRock’s European Bitcoin ETP Details
The new Bitcoin ETP trades under the ticker IB1T on Xetra and Euronext Paris, and BTCN on Euronext Amsterdam. BlackRock has introduced a competitive fee structure, temporarily waiving 10 basis points to reduce the expense ratio to 0.15% until the end of 2025. This makes it significantly cheaper than Europe’s leading CoinShares Physical Bitcoin ETP, which charges 0.25%.
Stephen Wundke, director of strategy and revenue at crypto investment firm Algoz, noted that while the European market might not replicate the massive success seen in the U.S., the availability of regulated Bitcoin investment products is beneficial for traditional investors:
“Quality investment products through regulated asset managers have been more available throughout Europe than in the US, and secondly, Bitcoin is also more easily purchased. […] However, the ability for traditional family offices across Europe to hold a small percentage of their asset base in ‘digital gold’ is no doubt a good thing. […] Just don’t expect $60 billion of purchases in the first quarter.”
Strategic Move Amid Regulatory Stability
BlackRock’s expansion into Europe reflects confidence in the European Union’s Markets in Crypto-Assets (MiCA) regulatory framework. Ajay Dhingra, head of research at decentralized exchange aggregator Unizen, highlighted Europe’s regulatory stability compared to the U.S.:
“From Trump to Biden and now Trump again, US digital asset policy has been largely inconsistent. In contrast, the EU has steadily embraced compliant blockchain adoption — offering the regulatory stability companies are looking for.”
Growing Institutional Interest in Crypto
Manuela Sperandeo, BlackRock’s head of Europe and Middle East iShares Product, described the launch as a “tipping point,” combining retail investor demand with increasing professional interest. BlackRock currently dominates the U.S. Bitcoin ETF market with its iShares Bitcoin Trust, managing $50.7 billion in assets, approximately 2.73% of Bitcoin’s total supply.
BlackRock also manages the leading Ethereum ETF, the Grayscale Ethereum Trust ETF, with $3.46 billion in assets under management.
Quick Summary and Key Points
- BlackRock launches iShares Bitcoin ETP in Europe on Xetra, Euronext Amsterdam, and Euronext Paris.
- Competitive fee structure with a temporary expense ratio of 0.15% until the end of 2025.
- Reflects confidence in Europe’s MiCA regulatory framework.
- Institutional interest in crypto continues to grow, signaling a bullish market sentiment.
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