BlackRock to Launch Bitcoin ETP in Europe Under Tickers IB1T and BTCN

BlackRock plans to launch its first bitcoin exchange-traded product (ETP) in Europe, named iShares Bitcoin ETP. Key details include:

• The ETP will be available on Xetra and Euronext Paris under the ticker IB1T, and on Euronext Amsterdam as BTCN.
• Launch date is set for Tuesday.
• BlackRock's iShares Bitcoin Trust ETF (IBIT) holds over $50 billion in net assets and has seen nearly $40 billion in cumulative net inflows.
• Coinbase will provide custody services for the new European ETP, similar to its role for the IBIT.
• The management fee for the European ETP is reduced to 0.15% until the end of 2025.