BlackRock Expands Into the European Crypto Market with Its First Bitcoin ETP

BlackRock, the asset manager behind the largest U.S. Bitcoin ETF, is expanding into the European crypto market with its first Bitcoin exchange-traded product (ETP)

BlackRock, the asset manager behind the largest U.S. Bitcoin ETF, is expanding into the European crypto market with its first Bitcoin exchange-traded product (ETP) outside of North America.

The iShares Bitcoin ETP will debut on Xetra and Euronext Paris on Tuesday, August 8, with the ticker IB1T. On Euronext Amsterdam, it will be available as BTCN. Despite cryptocurrency-linked ETPs being accessible on European exchanges for years, the market in Europe is smaller, valued at $13.6 billion, compared to the larger market in the U.S., SoSoValue data shows.

The ETP will be marketed towards both institutional and knowledgeable retail investors and will be issued by a special purpose vehicle based in Switzerland. It also carries a temporary 0.15% fee discount, valid until the end of 2025, making it one of the cheapest Bitcoin ETPs at launch.

In contrast, Europe’s largest crypto ETP, CoinShares’ $1.3 billion Bitcoin product, charges a 0.25% fee — the same fee that IB1T will have after the initial period.

“The launch of the iShares Bitcoin ETP is a significant turning point for the industry as we see a convergence of both retail and professional investor demand for efficient, institutionally-grade access to crypto markets,” said Manuela Sperandeo, BlackRock’s head of Europe & Middle East iShares Product.

The move also aligns with BlackRock’s goal to double its customer base from 9 million to 19 million over three years and expand its $1 trillion market share.

The expansion into the EU market comes as more U.S. asset managers, like Franklin Templeton, are entering the region with crypto and tokenized products. The EU’s new Markets in Crypto Assets (MiCA) regulations also provide a clear framework, supporting the rise of innovative investment options in the region.

In recent years, BlackRock has been a vocal advocate for digital assets. Most recently, CEO Larry Fink spoke about Bitcoin as a possible “safe haven” during the World Economic Forum.

While not fully endorsing it, Fink suggested that the cryptocurrency could reach $700,000, tying it to his views on currency devaluation and political instability.