BlackRock Launches Bitcoin ETP in Europe with 0.15% Fee
1min read BlackRock, the world’s largest asset manager, has launched a Bitcoin exchange-traded product (ETP) on multiple European stock exchanges. The iShares Bitcoin ETP began trading on March 25 on Xetra, Euronext Amsterdam, and Euronext Paris. This launch follows the success of its iShares Bitcoin Trust exchange-traded fund (ETF), which dominates the US market with significant assets under management.
The new ETP trades under the IB1T ticker on Xetra and Euronext Paris, while on Euronext Amsterdam it uses BTCN. The product launched with a temporary fee waiver of 10 basis points, which decreases the expense ratio to 0.15% until the end of 2025. This makes BlackRock’s offering considerably cheaper compared to Europe’s top crypto ETP, which currently charges 0.25%.
This move reflects BlackRock’s confidence in the European Union’s regulatory framework for crypto assets. The launch of the iShares Bitcoin ETP in Europe is seen as a significant step in the industry, combining established demand from retail investors with increasing professional interest. The ETP is 100% physically backed by Bitcoin, ensuring that investors have direct exposure to the underlying asset. This physical backing enhances the product's appeal to those seeking a secure and transparent investment vehicle.
According to analysts, the availability of the iShares Bitcoin ETP in Europe may not have the same reaction as it saw in the US. Quality investment products through regulated asset managers have been more available throughout Europe, and Bitcoin is also more easily purchased in the region. However, the ability for traditional family offices across Europe to hold a small percentage of their asset base in ‘digital gold’ is seen as a positive development. The aggressive fee structure of BlackRock’s ETP is designed to keep competitors out of the market and question the commitment of any new entrants. This type of competition is good for investors and ultimately good for digital currencies, as players in the market will have to compete to provide the best offering to investors.
This is BlackRock’s first issuance of a crypto ETP outside of North America. The move reflects the firm’s confidence in the European Union’s regulatory framework for crypto assets, which offers the stability that companies are looking for. BlackRock’s earnings report showed that the firm managed over $11.55 trillion on average during the fourth quarter of 2024. Other than the top Bitcoin ETF, the firm also launched its Grayscale Ethereum Trust ETF, with significant assets under management.
