BlackRock Launches Its First Bitcoin ETP in Europe
BlackRock has introduced its first Bitcoin exchange-traded product (ETP) in Europe, expanding beyond the U.S. market where its iShares Bitcoin Trust has already attracted over $50 billion in investments. The new ETP, called iShares Bitcoin ETP (IB1T), is set to list on Xetra, Euronext Paris, and Euronext Amsterdam and is domiciled in Switzerland. With Coinbase as custodian and Bank of New York Mellon as administrator, the product aims to tap into increasing institutional and retail interest in cryptocurrency investments.
The European launch follows a surge in demand for regulated crypto products, especially after the EU introduced Markets in Crypto Assets (MiCA) regulations, which provide a clear framework for such investments. “It reflects what really could be seen as a tipping point in the industry,” said Manuela Sperandeo, BlackRock’s head of Europe and the Middle East iShares Product. BlackRock’s dominance in Europe’s exchange-traded product market, where iShares already holds a 42.6% market share, could give IB1T a strong competitive edge.
