BlackRock Launches iShares Bitcoin ETP in Major European Markets

2 min

BlackRock has launched its physically-backed Bitcoin ETP, the iShares Bitcoin ETP (IB1T), in Europe. Key details include:

Total expense ratio (TER) is currently 0.15%, rising to 0.25% after a temporary fee waiver.
IB1T trades on major European exchanges: Euronext Paris, Deutsche Boerse, and Euronext Amsterdam.
The product is domiciled in Switzerland and backed by Bitcoin held in cold storage via Coinbase.
BlackRock's previous US Bitcoin ETF, iShares Bitcoin Trust ETF (IBIT), reached $50.7 billion in Assets Under Management (AUM).
A survey showed that 75% of professional investors are interested in a Bitcoin ETP within two years.

BlackRock aims to bridge crypto and traditional finance for institutional investors in Europe. Currently, Europe lags the US in the crypto ETP market, with the largest local product holding only $1.3 billion in AUM.

Bitcoin price increased significantly following the US spot Bitcoin ETF launch in January, reaching an All-Time High (ATH) above $109,000. However, it has since declined to around $88,100, with a recent 24-hour drop of 0.22%. Daily trading volume rose by 19.4% to $31.4 billion, indicating renewed investor interest.

With BlackRock's new ETP, BTC may regain momentum and potentially retest its ATH as European adoption increases.