The world's largest asset management company, BlackRock, has announced the launch of a Bitcoin ETP in Europe, marking an important step in the development of crypto products outside North America.
Launch of Bitcoin ETP by BlackRock
According to Bloomberg, BlackRock has announced the launch of a new product - iShares Bitcoin ETP. The product will feature a temporary 10 basis point exemption fee, which will be reduced to 0.15% by the end of 2025.
Exchanges where the product will be presented
The new iShares Bitcoin ETP will be listed on Germany's Xetra Exchange and Paris Euronext under the ticker IBIT, and on Amsterdam Euronext under the ticker BTCN starting March 25. Cryptocurrency exchange Coinbase is the custodian.
Significance of the new step for the industry
The launch of Bitcoin ETP outside North America demonstrates the growing interest in crypto products in Europe. BlackRock's iShares Bitcoin Trust ETF is already the largest among the 12 spot Bitcoin ETFs listed in the U.S., with a net asset value of over $50 billion.
BlackRock's move to launch Bitcoin ETP in Europe reflects the desire to expand crypto products globally. This event highlights the importance of professional interest and the increasing demand from retail investors for cryptocurrency assets.
