BlackRock, the asset manager behind the largest US Bitcoin ETF, is making its way into the European crypto market. The company has launched its first Bitcoin exchange-traded product (ETP) outside North America, taking advantage of the rising interest in digital assets. This move follows the strong performance of similar products in the US.
Where and When Will It Launch?
According to iShares’ website, the iShares Bitcoin ETP will begin trading on Xetra and Euronext Paris under the ticker IB1T, and on Euronext Amsterdam as BTCN. The launch is set for Tuesday. While Europe has had cryptocurrency-linked ETPs for years, the total market size remains relatively small at $13.6 billion, compared to the much larger US market
BlackRock’s iShares Bitcoin Trust ETF (IBIT) is currently the largest among the 12 US spot Bitcoin ETFs, with over $50 billion in assets and nearly $40 billion in total inflows, according to SoSoValue data. Coinbase, which manages custody for IBIT, will also oversee the new European product.
Who Can Invest?
The Bitcoin ETP will be open to both institutional investors and experienced retail traders. It will be issued through a special purpose vehicle based in Switzerland.
Competitive Pricing to Attract Investors
To make the launch more appealing, BlackRock is offering a temporary fee discount of 0.15%, valid until the end of 2025. This makes IB1T one of the most affordable Bitcoin ETPs at launch. After the promotional period, the fee will increase to 0.25%, the same as CoinShares’ $1.3 billion Bitcoin ETP, which is currently the largest in Europe.
Manuela Sperandeo, BlackRock’s head of Europe and Middle East iShares Product, called the launch an important moment for the industry. She noted that it reflects both rising interest from retail investors and increasing demand from professional investors.
BlackRock’s Bigger Picture
BlackRock’s European launch is part of its strategy to double its customer base, growing from 9 million to 19 million in three years, while also expanding its $1 trillion market share. The move comes as more U.S. asset managers, like Franklin Templeton, enter the EU market with crypto and tokenized products. Besides, the EU’s new Markets in Crypto Assets (MiCA) regulations provide a clear framework, supporting the rise of innovative investment options in the region.
Larry Fink’s View on Bitcoin
BlackRock has been a strong advocate for digital assets in recent years. CEO Larry Fink recently described Bitcoin as a potential “safe haven” at the World Economic Forum. While not fully endorsing it, he suggested that Bitcoin could reach $700,000, pointing to its potential as protection against currency devaluation and political instability.
With this latest move into Europe, BlackRock is strengthening its position in the global crypto market and helping Bitcoin gain further recognition as a mainstream investment.
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FAQs
IB1T will be listed on Xetra, Euronext Paris, and Euronext Amsterdam, providing access to both institutional and retail investors.
BlackRock aims to expand its crypto offerings globally, tapping into growing investor demand and leveraging Europe’s new MiCA regulatory framework.
