- BlackRock is launching its first European Bitcoin ETP, trading on Xetra and Euronext exchanges under tickers IB1T and BTCN.
- The new ETP will feature a temporarily reduced fee of 0.15% through the end of 2025.
- Coinbase will provide custody services for the European product, as it does for BlackRock’s successful U.S. Bitcoin ETF (IBIT).
BlackRock, the world’s largest asset manager, is expanding its cryptocurrency offerings into Europe with its first Bitcoin exchange-traded product (ETP) outside North America. The new product will begin trading Tuesday on multiple European exchanges, marking a significant expansion of institutional Bitcoin investment options across the Atlantic.
The iShares Bitcoin ETP will be available on Germany‘s Xetra exchange and Euronext Paris under the ticker IB1T, while on Euronext Amsterdam it will trade as BTCN, according to listing details on iShares’ website.
The asset manager is offering European investors an attractive fee structure, temporarily reducing the management fee by 10 basis points to 0.15% until December 31, 2025. This competitive pricing strategy mirrors BlackRock’s approach in the U.S. market, where it has dominated Bitcoin ETF flows.
Coinbase, the cryptocurrency exchange that serves as custodian for BlackRock’s U.S. Bitcoin ETF, will continue this relationship by providing custody services for the new European product. This maintains continuity in BlackRock’s operational structure across markets.
The European launch follows tremendous success for BlackRock’s U.S. offering. Its iShares Bitcoin Trust ETF (IBIT) has established itself as the dominant player among the dozen spot Bitcoin ETFs in the United States. IBIT currently manages over $50 billion in assets and has attracted nearly $40 billion in net inflows since its January launch, according to data tracked by SoSoValue.
This European expansion represents another significant step in the institutionalization of Bitcoin as an asset class. By bringing its Bitcoin investment products to European exchanges, BlackRock is providing regulated access to cryptocurrency exposure for an entirely new segment of institutional and retail investors who may have previously lacked compliant options for Bitcoin investment.
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