BlackRock, the world’s largest asset manager, has introduced a Bitcoin ETP on several European stock exchanges, marking a significant stride in the crypto sector.
BlackRock's Bitcoin ETP Launch
BlackRock's iShares Bitcoin ETP hit the market on March 25 on Xetra, Euronext Amsterdam, and Euronext Paris. Previously, BlackRock launched the iShares Bitcoin Trust ETF, managing $50.7 billion in assets, or around 2.73% of all Bitcoin in circulation.
Fee Structure and Competitive Edge
The ETP trades under IB1T on Xetra and Euronext Paris and BTCN on Euronext Amsterdam. Until the end of 2025, the fee is reduced by 10 basis points, making the expense ratio 0.15%, which is lower than many competitors thanks to the temporary fee reduction.
iShares Expansion in Europe
This is the first crypto ETP that BlackRock offers outside of North America. BlackRock's Manuela Sperandeo stated that the launch is a turning point as it combines strong consumer demand with growing interest from professionals.
BlackRock's recent steps to offer Bitcoin ETP in European markets highlight the company's growing confidence in the regulatory opportunities in Europe's crypto sphere.
