BlackRock, the world’s biggest asset manager, put out a Bitcoin ETP (exchange-traded product) on several European stock exchanges.
BlackRock’s product page says that the iShares Bitcoin ETP hit the market on March 25 on Xetra, Euronext Amsterdam, and Euronext Paris. The launch comes after the success of its iShares Bitcoin Trust ETF, which holds $50.7 billion in assets—around 2.73% of all Bitcoin in circulation.
Stephen Wundke, who is responsible for strategy and revenue at the crypto investment firm Algoz, told Cointelegraph that the ETP might not get the same response in Europe: “Quality investment products through regulated asset managers have been easier to find in Europe than in the US. Bitcoin is also easier to purchase.”
However, it is a positive development that traditional family offices throughout Europe could have a small portion of their asset base in “digital gold.”
Fee Structure and Product Info
The ETP trades as IB1T on Xetra and Euronext Paris and as BTCN on Euronext Amsterdam. Bloomberg had already reported about this launch, which followed BlackRock’s Bitcoin ETF launch on CBOE Canada.”
The ETP was launched with a temporary fee waiver, where 10 basis points were removed, making the expense ratio 0.15% until the end of 2025. CoinShares Physical Bitcoin ETP, which is Europe’s best crypto ETP, charges 0.25%, making BlackRock’s product cheaper at least while the fee cut is active.
“There’s no doubt that BlackRock’s low pricing was meant to keep competitors out of the market and make newcomers doubt their commitment,” Wundke said. He also said that this kind of competition is beneficial for investors and digital currencies in the long run because it forces players to make better products.
iShares Grows in Europe
This is the first crypto ETP that BlackRock has sold outside of North America. BlackRock’s Manuela Sperandeo, who is responsible for iShares products in Europe and the Middle East, told Bloomberg that the launch marks a turning point because it combines strong consumer demand with growing interest from professionals.
Head of Research at decentralized exchange aggregator Unizen, Ajay Dhingra, said that BlackRock’s decision shows BlackRock’s confidence in the EU’s Markets in Crypto-Assets Regulation.
“US policy on digital assets has been mostly inconsistent from Trump to Biden and now back to Trump.” The EU, on the other hand, has slowly allowed compliant blockchain adoption, which gives companies the regulatory stability they want.
A recent earnings report indicated that BlackRock managed more than $11.55 trillion during Q4 2024. The company also launched the Grayscale Ethereum Trust ETF, which is the best Ether (ETH) ETF and has $3.46 billion in assets under management.
