BlackRock has introduced a new Bitcoin
Available on Xetra, Euronext Paris, and Euronext Amsterdam, the iShares Bitcoin ETP began trading on March 25. It goes by the symbol IB1T in Paris and on Xetra, while it’s listed as BTCN in Amsterdam.
The product offers European investors a way to gain exposure to Bitcoin without holding the asset directly.
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This is BlackRock’s first crypto-linked investment product outside North America, and it enters a market where cost often plays a key role. To draw attention, the ETP is temporarily priced below many of its competitors. A fee waiver lowers the product’s expense ratio to 0.15% until the end of 2025.
That is below the 0.25% fee charged by CoinShares Physical Bitcoin, which is currently one of the leading Bitcoin ETPs in Europe.
BlackRock’s expansion into Europe comes after its US Bitcoin ETF, the iShares Bitcoin Trust, saw inflows and grew to manage over $50 billion in assets. That fund holds around 2.73% of all Bitcoin in circulation.
Manuela Sperandeo, who oversees iShares products for Europe and the Middle East, stated:
This launch reflects what really could be seen as a tipping point in the industry—the combination of established demand from retail investors with more professionals now really getting into the fold.
Meanwhile, Michael Saylor’s company, Strategy, recently made its smallest Bitcoin purchase to date. How much? Read the full story.
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