BlackRock has announced the launch of its first Bitcoin ETP in Europe, opening new investment opportunities.
Details of BlackRock's New ETP
BlackRock's new Bitcoin ETP will trade on Xetra and Euronext Paris under the ticker IB1T and on Euronext Amsterdam under BTCN. This is the company's first crypto ETP outside North America. The ETP will be physically backed by Bitcoin, with Coinbase Global Inc. as the custodian. A temporary fee waiver will reduce the expense ratio to 0.15% until the end of 2025.
BlackRock's Financial Performance
BlackRock achieved record financial results in Q4 2024, with assets under management reaching $11.6 trillion and a 21% increase in profits. The company recorded $1.67 billion in net income, or $10.63 per share.
Market and Investment Strategy of BlackRock
BlackRock's expansion into the European market aligns with growing interest in cryptocurrencies. The company continues to make significant investments in private markets, including acquisitions of Global Infrastructure Partners and HPS Investment Partners. BlackRock's success is attributed to strong market conditions and client momentum.
BlackRock's ETP launch in Europe underscores the growing interest in cryptocurrencies and marks a significant step in the development of the European investment product market.
