BlackRock Launches Its First Bitcoin ETP in Europe
U.S. investment firm BlackRock has launched its first Bitcoin ETP in Europe, further expanding the reach of its successful crypto investment offerings.
The product, called the iShares Bitcoin ETP (for retail investors, the distinction between an ETF and an ETP is largely negligible), will trade on leading European exchanges under the tickers IB1T or BTCN. These include Euronext Paris, Xetra, and Euronext Amsterdam. The launch underscores BlackRock’s aim to strengthen its position in the growing digital asset market and offer clients new tools for portfolio diversification.
It reflects what really could be seen as a tipping point in the industry — the combination of established demand from retail investors with more professionals now really getting into the fold,
said Manuela Sperandeo, BlackRock’s head of Europe & Middle East iShares Product.
The iShares Bitcoin ETP is fully backed by BTC held in cold storage, managed by the reputable Coinbase Custody International Ltd, which significantly reduces the risk of hacks. In addition, the Bank of New York Mellon oversees administrative functions to ensure transparency and regulatory compliance. Moreover, BlackRock has expressed openness to partnerships with European firms.
Related: BlackRock Adds Its Spot Bitcoin ETF to Model Portfolio
The launch of this new instrument was made possible by the strong performance of a similar product in the U.S., which debuted in January 2024. That fund quickly attracted substantial capital. For example, BlackRock’s spot Bitcoin ETF now holds over $50 billion in assets, with daily net inflows often reaching tens of millions of dollars. However, in recent weeks, institutional investors have largely been pulling funds out.
Although the European crypto ETP market has existed for some time, its total capitalization remains relatively modest (under $15 billion, well below the level seen in the U.S.). Nevertheless, the successful launch of this new product and growing competition could serve as a catalyst for increased investment from both institutional and retail participants.
Related: Fidelity Integrates Ethereum Blockchain into Treasury Fund Management
The content on The Coinomist is for informational purposes only and should not be interpreted as financial advice. While we strive to provide accurate and up-to-date information, we do not guarantee the accuracy, completeness, or reliability of any content. Neither we accept liability for any errors or omissions in the information provided or for any financial losses incurred as a result of relying on this information. Actions based on this content are at your own risk. Always do your own research and consult a professional. See our Terms, Privacy Policy, and Disclaimers for more details.
Articles by this author
