BlackRock Launches Its First Bitcoin Product in Europe, Listed on Three Exchanges

According to a report from CoinDesk, BlackRock, the world's largest asset management company, has officially launched its first Bitcoin product in Europe, the iShares Bitcoin ETP. The product is now listed on Euronext Amsterdam and Paris under the ticker BTCN, as well as on Germany’s Xetra under the ticker IBIT.

This launch marks a strategic move by BlackRock to respond to the high demand from both institutional and retail investors in Europe for cryptocurrency-based investment instruments. Meanwhile, according to a report from Reuters, BlackRock had previously successfully launched the iShares Bitcoin Trust (IBIT) in the United States in January 2024. The product currently manages assets worth $50.7 billion.

In a statement quoted by CCN.com, Manuela Sperandeo, Head of iShares EMEA at BlackRock, emphasized that the launch of this product is a significant milestone for the industry, in line with the growing investor interest in crypto investment instruments.

The iShares Bitcoin ETP is a physically backed product, meaning each unit is directly supported by Bitcoin, which is held by Coinbase Custody International Ltd as the custodian. The product has a management fee of 0.25%, but BlackRock is offering a temporary discount of 10 basis points until the end of 2025, bringing the effective fee down to 0.15%.

With this move, BlackRock further strengthens its commitment to expanding its investment portfolio in the European market, particularly in digital assets like Bitcoin, which continue to gain traction among global investors.