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BlackRock, a global asset management giant, has unveiled its latest offering in Europe: a Bitcoin Exchange-Traded Product (ETP). Following the success of its US-listed Bitcoin ETF, which has already accumulated $50.6 billion in assets, BlackRock aims to replicate this achievement on the European market. The new iShares Bitcoin ETP will trade on major platforms like Xetra and Euronext Paris under the ticker IB1T, with an additional listing on Euronext Amsterdam as BTCN. To attract investors, BlackRock has implemented a temporary fee waiver, reducing the expense ratio to 0.15% until year-end.
This move marks BlackRock’s first crypto-linked ETP outside North America, signaling a strategic expansion amidst growing retail and professional investor interest in digital assets. According to Manuela Sperandeo, head of iShares Product for Europe and the Middle East at BlackRock, the decision reflects a significant market shift and aims to capitalize on increasing momentum within the sector.
While Europe already hosts over 160 crypto ETPs, the market remains smaller than the US, where such products dominate global market share due to competitive costs and high liquidity. Analysts suggest that BlackRock’s entry could stimulate substantial growth in Europe, though investor risk tolerance in the region typically differs from that in the US and Asia.
