BlackRock will deploy Bitcoin ETP in Europe after the success of the US ETF

Key takeout

BlackRock will launch the first crypto-link ETP in Europe to trade Xetra and EuroNext as IB1T. Bitcoin ETP in Europe features a temporary fee waiver, cost-effective at 0.15%.

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BlackRock, a leading global asset manager, has introduced Bitcoin ETP to Europe and is based on the success of Ishares Bitcoin Trust (IBIT), a US-listed Spot Bitcoin ETF, and has accumulated $50.6 billion in managed assets in the case of the latest data.

According to a March 25 report from Bloomberg, the iShares Bitcoin ETP will trade as IB1T on Xetra and Euronext Paris and as BTCN on EuroNext Amsterdam.

This product features a temporary fee waiver of 10 basis points and will bring the expense ratio to 0.15% by the end of the year.

The fund is BlackRock’s first crypto-related ETP outside of North America. BlackRock previously launched IBIT and ISHARES BITCOIN ETFs at CBOE Canada.

Manuela Sperundeo, head of BlackRock’s Ishhales products for Europe and the Middle East, said strong retail demand is a mix of growing interest from professional investors. She added that both BlackRock’s transition to the European market reflects this change and will help drive it forward.

Bloomberg ETF analyst Eric Bulknath has long established the Crypto ETPS market, where over 160 products track different digital assets, with over 160 products tracking different digital assets, but its size remains smaller than in the US.

Despite being only a year old, the US Spot ETF has captured around 91% of global market share, mainly due to its competitive cost structure and high liquidity.

Analysts suggested that if BlackRock could successfully replicate the dynamics of the US market, significant market growth would be plausible.

However, he noted that risk tolerance for European investors is generally lower compared to counterparts in the US and certain Asian regions.

Europe is spotted by size on the Bitcoin ETF leaderboard. When it comes to cost and liquidity, we kick so many ass. If BlackRock brings in even some of the US fears, you should see success.

– Eric Balchunas (@ericbalchunas) February 5, 2025

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