BlackRock, the world's largest asset manager, has announced the launch of its first Bitcoin exchange-traded product (ETP) in Europe. This is a significant event for the financial sector as it reflects the growing interest in integrating digital assets into mainstream portfolios.
Launch Details and Positioning
The iShares Bitcoin ETP started trading on March 25, 2025, under the ticker IB1T on Xetra in Germany, Euronext Paris, and as BTCN on Euronext Amsterdam. Domiciled in Switzerland, a country open to digital assets, the ETP offers a regulated way for European investors to gain exposure to Bitcoin. To attract a wide range of investors, BlackRock has temporarily reduced the expense ratio to 0.15% until the end of 2025, after which it will revert to the standard 0.25%.
Product Structure and Custodianship
Each share of the iShares Bitcoin ETP is physically backed by Bitcoin, providing investors with direct exposure to cryptocurrency. Coinbase Custody International Ltd. is the custodian, ensuring secure handling of the underlying assets.
Global Strategy Alignment
BlackRock's move into the European crypto market aligns with the success of the iShares Bitcoin Trust in the US. The European ETP is structured similarly to meet the growing demand for regulated Bitcoin investment products in Europe, promoting wider adoption of digital assets in traditional finance.
The launch of the iShares Bitcoin ETP in Europe marks the significant importance of digital assets in modern portfolios. It provides European investors with an accessible and regulated way to invest in Bitcoin.
