BlackRock Expands Bitcoin ETF Offering To Europe

by Murtuza J Merchant Benzinga Staff Writer

Zinger Key Points

Europe’s crypto ETP market remains smaller than the U.S., but BlackRock’s entry signals expanding institutional appetite.
BlackRock sees strong retail and growing institutional demand for Bitcoin products across both sides of the Atlantic.
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Asset management giant BlackRock BLK is deepening its presence in the digital asset space with the launch of a Bitcoin BTC/USD exchange-traded product (ETP) in Europe, marking its first such initiative outside the U.S.

What Happened: The new product, named iShares Bitcoin ETP, will be available on Germany's Xetra exchange, as well as Euronext's Paris and Amsterdam platforms, according to Bloomberg.

It will trade under the tickers IB1T and BTCN, respectively. This move follows the company's highly successful rollout of its U.S.-based iShares Bitcoin Trust, which quickly amassed tens of billions in assets since launching in January 2024.

To attract early interest, BlackRock is offering the European ETP with an initial management fee of just 0.15%, discounted from its standard 0.25% until the end of the year.

This temporary rate positions the fund among the most competitively priced crypto investment products in the region.

Manuela Sperandeo, who oversees iShares products in Europe and the Middle East at BlackRock, noted that the timing reflects a key moment in the digital asset investment landscape.

"We're seeing a shift where professional investors are now engaging more actively alongside established retail demand," she said.

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Why It Matters: While Europe has hosted crypto ETPs for some time, the overall market remains significantly smaller than its U.S. counterpart, with around $13.6 billion in assets under management across the region.

By contrast, BlackRock's U.S. Bitcoin product has rapidly become one of the most successful ETF launches in market history.

The physical Bitcoin held by the ETP will be stored by Coinbase COIN, which will serve as custodian.

The fund will be issued through a Swiss-based special purpose vehicle, and it is intended for both institutional participants and informed individual investors.

BlackRock's latest expansion highlights the firm's continued strategy of bringing traditional financial structures into the digital asset space, reinforcing Bitcoin's position as a mainstream investment option.

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