BlackRock Launches Bitcoin ETP in Europe

BlackRock (BLK), the global asset manager behind the largest U.S. spot bitcoin (BTC) exchange-traded fund (ETF), is set to list a bitcoin exchange-traded product (ETP) in Europe, its first crypto ETP outside North America.

Details of the ETP

The iShares Bitcoin ETP will trade on Xetra and Euronext in Paris under the ticker IB1T and on Euronext Amsterdam as BTCN starting Tuesday, according to listing details on iShares’ website.

BlackRock’s iShares Bitcoin Trust ETF (IBIT) is currently the largest of the 12 spot bitcoin ETFs listed in the U.S., boasting net assets worth over $50 billion and cumulative net inflows near $40 billion, according to data tracked by SoSoValue.

Custody Provider

Coinbase (COIN), which provides custody for IBIT, will also manage custody for the European product.

Reduced Fee

The fee for the European ETP is temporarily reduced by 10 basis points to 0.15% until the end of 2025.

The introduction of the ETP was first reported by Bloomberg.