Global asset manager BlackRock has officially entered the European crypto market with its first Bitcoin exchange-traded product (ETP). The iShares Bitcoin ETP (IB1T) will trade on Xetra and Euronext Paris under IB1T, while in Euronext Amsterdam, it will be listed as BTCN.
What Makes BlackRock’s Bitcoin ETP Unique?
Lower Fees to Attract Investors
BlackRock is waiving 10 basis points in fees until the end of the year, reducing the expense ratio to 0.15%. After that, it will charge 0.25%, aligning with Europe’s largest crypto ETP by CoinShares.
Custody & Institutional Backing
The ETP will hold physical Bitcoin, with Coinbase as the custodian, ensuring secure asset management. BlackRock has structured the product through a Swiss-based special-purpose vehicle, making it accessible to both institutional and experienced retail investors.
Building on U.S. Success
The launch follows the rapid growth of BlackRock’s iShares Bitcoin Trust (IBIT) in the U.S., which secured $48 billion in 2024, making it the fastest-growing ETF in history.
What This Means for the Crypto Market
Manuela Sperandeo, BlackRock’s Head of Europe & Middle East iShares Product, describes this as a tipping point for Bitcoin investment. As retail and institutional demand increases, BlackRock’s European expansion signals growing mainstream adoption of crypto-linked investment products.
