BlackRock Set To Launch Bitcoin ETP In Europe, Marking First Crypto Venture Outside U.S.

BlackRock's IBIT is the largest among the 12 spot Bitcoin ETFs in the U.S., with net assets exceeding $50 billion.

Key Points:

• BlackRock is launching a Bitcoin exchange-traded product (ETP) in Europe.

• The iShares Bitcoin ETP will trade under the ticker IB1T on Xetra and Euronext Paris, and BTCN on Euronext Amsterdam.

• A temporary fee waiver of 10 basis points will lower the product’s fee to 0.15% until the end of 2025.

BlackRock (BLK), the global asset manager behind the largest U.S. spot Bitcoin ETF, is preparing to launch its first crypto ETP outside North America.

The iShares Bitcoin ETP will be listed on Xetra and Euronext Paris under the ticker IB1T and on Euronext Amsterdam as BTCN starting Tuesday, according to listing details on iShares' website.

BlackRock's iShares Bitcoin Trust ETF (IBIT) is the largest among the 12 spot Bitcoin ETFs in the U.S., with over $50 billion in net assets and nearly $40 billion in cumulative net inflows, according to SoSoValue data.

Coinbase (COIN), which provides custody for IBIT, will also serve as the custodian for BlackRock’s European Bitcoin ETP.

The European ETP’s fee is temporarily reduced by 10 basis points to 0.15% until the end of 2025.