BlackRock Launches Bitcoin ETP in Europe, Expands Crypto Offerings

BlackRock, the world's largest asset manager, has expanded its cryptocurrency offerings by launching a new Bitcoin exchange-traded product (ETP) in Europe. This development is part of a broader trend where issuers are increasingly creating crypto-focused products, driven by the success of U.S.-based Bitcoin funds. The iShares Bitcoin ETP (IB1T) is now available on German, French, and Dutch stock exchanges, as detailed in a prospectus on the iShares website. Each security in this ETP corresponds to a specific amount of Bitcoin, offering investors a familiar financial instrument to gain exposure to the cryptocurrency.

Coinbase, the largest crypto exchange in the U.S., will be responsible for custodying the digital assets for this investment vehicle, as outlined in the prospectus. BlackRock's application for a spot Bitcoin ETF in mid-2023 was a significant milestone, leading to its eventual approval in January 2024. This approval was largely due to BlackRock's status as the world’s largest asset manager. The iShares Bitcoin Trust has seen substantial net inflows, making it the most successful among the 11 bitcoin funds currently trading. Spot Bitcoin funds now manage a considerable portion of the market's assets.

In addition to its Bitcoin offerings, BlackRock’s spot Ethereum fund has also attracted significant assets since its debut in July 2024. Crypto ETFs have made it easier for traditional investors to enter the crypto market by providing exposure to digital assets through more familiar financial products. This launch is indicative of the growing institutional adoption of cryptocurrencies, as more asset managers and financial institutions recognize the potential of these digital assets.

In a related development, the tokenization platform Securitize announced the launch of BlackRock’s $1.7 billion tokenized treasury fund BUIDL on the Solana blockchain. This move marks a significant step in the institutional adoption of tokenized real-world assets, expanding access with a new share class on the Solana network. The launch of BUIDL on Solana follows the one-year anniversary of its initial launch, underscoring BlackRock's commitment to innovation in the financial sector.