BlackRock launches first bitcoin ETP product in Europe
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U.S. asset management company BlackRock has decided to expand its cryptocurrency investment offerings, entering European markets with an Exchange-Traded Product (ETP) based on physical Bitcoin. With the launch of the iShares Bitcoin ETP (IB1T) available today, BlackRock's new product is tradable on Euronext Paris and Xetra Frankfurt, with a separate listing for Euronext Amsterdam (BTCN).
Additionally, to further incentivize investors, the firm has temporarily reduced its fees: the Total Expense Ratio (TER) – which is the total management cost of an investment fund – is set at 0.15% until December 2025. As a result, BlackRock’s Bitcoin ETP is currently one of the most competitive in the European market and will be available to both institutional investors and the retail sector.
Furthermore, cybersecurity will be managed by Coinbase Global, chosen as the custodian for the physical Bitcoin held as collateral for IB1T, ensuring compliance with regulations and protecting investor privacy.
Unlike U.S. regulations, European rules do not allow cryptocurrency funds to be classified as ETFs (Exchange-Traded Funds), so to address this, BlackRock has configured this new product as an ETP, a category that includes financial instruments listed on commodities and digital assets.
Additionally, to further incentivize investors, the firm has temporarily reduced its fees: the Total Expense Ratio (TER) – which is the total management cost of an investment fund – is set at 0.15% until December 2025. As a result, BlackRock’s Bitcoin ETP is currently one of the most competitive in the European market and will be available to both institutional investors and the retail sector.
Furthermore, cybersecurity will be managed by Coinbase Global, chosen as the custodian for the physical Bitcoin held as collateral for IB1T, ensuring compliance with regulations and protecting investor privacy.
Unlike U.S. regulations, European rules do not allow cryptocurrency funds to be classified as ETFs (Exchange-Traded Funds), so to address this, BlackRock has configured this new product as an ETP, a category that includes financial instruments listed on commodities and digital assets.