BlackRock (BLK), the prominent global asset manager associated with the largest spot bitcoin (BTC) exchange-traded fund (ETF) in the U.S., is embarking on a new venture by launching a bitcoin exchange-traded product (ETP) in Europe, marking its inaugural crypto ETP beyond North America.
The iShares Bitcoin ETP is scheduled to trade on Xetra and Euronext in Paris under the ticker IB1T and will also be available on Euronext Amsterdam as BTCN on Tuesday, as revealed in the listing details available on the iShares website.
BlackRock’s iShares Bitcoin Trust ETF (IBIT) stands as the largest among the 12 spot bitcoin ETFs listed in the U.S., boasting net assets exceeding $50 billion and total net inflows of nearly $40 billion, according to data from SoSoValue.
Coinbase (COIN), which currently provides custody services for IBIT, will extend the same support for the new European product.
The fee for the European ETP has been temporarily lowered by 10 basis points to 0.15% until the end of 2025.
Bloomberg was the first to report on the introduction of the new ETP.
