BlackRock Expands Global Crypto Offerings with European Bitcoin ETP

BlackRock (BLK), the world’s largest asset manager, has launched its first bitcoin exchange-traded product (ETP) in Europe, marking a major expansion of its crypto investment offerings beyond North America.

The iShares Bitcoin ETP is now available for trading on Xetra and Euronext Paris under the ticker IB1T, while Euronext Amsterdam lists it as BTCN, according to iShares’ official records.

This move follows the success of BlackRock’s iShares Bitcoin Trust ETF (IBIT) in the U.S., which remains the dominant spot bitcoin ETF with over $50 billion in assets and nearly $40 billion in net inflows, per SoSoValue data. Earlier this year, BlackRock also introduced a similar product in Canada.

While U.S. spot bitcoin ETFs were a breakthrough moment for the crypto industry, European markets have had bitcoin ETPs for several years. CoinShares and 21Shares are among the leaders in this space, managing nine of the top 20 crypto ETPs by total assets. The CoinShares Physical Bitcoin ETP, currently the largest in Europe, manages $1.3 billion with a 0.25% fee, according to ETFbook.

To make its new product more competitive, BlackRock is offering a temporary fee reduction, cutting the cost of its European Bitcoin ETP to 0.15% until the end of 2025. Coinbase (COIN), which serves as the custodian for IBIT in the U.S., will also handle custody for this European product.

The launch was first reported by Bloomberg.