BlackRock Brings Bitcoin ETP to Europe Following US Success
BlackRock is bringing its Bitcoin exchange-traded product to the European market, according to a Bloomberg report.On Tuesday, March 25, BlackRock will list its Bitcoin ETP with the ticker IB1T on Xetra and Euronext Paris, while on Euronext Amsterdam, it will list as BTCN. To attract investors to the product at launch, BlackRock is offering a 0.10% fee waiver. This will reduce its management fee to 0.15% until the end of 2025, making it one of the cheapest in the region.According to BlackRock, the European product will leverage custody services from leading crypto exchange Coinbase, just like its U.S.-based fund.BlackRock's European Bitcoin ETP launch comes on the heels of the success of its U.S.-based fund, which launched in January 2024 and quickly attracted billions to achieve the best launch of any ETF in history. At Bitcoin's price peak in January 2025, the product boasted over $60 billion in assets under management. However, this is currently down to about $50 billion at the time of writing amid the asset's recent price woes. Still, it is the largest of the 12 spot Bitcoin ETFs listed in the U.S.Nonetheless, Europe is a significantly smaller market. The entire European crypto ETP market boasts an AUM of only about $13 billion, with the largest ETP, CoinShares' Bitcoin ETP, boasting an AUM of just $1.3 billion. Global crypto funds have recently endured a rough patch, with a record five-week outflow streak totaling $6.4 billion. Last week, however, these funds resumed winning ways with $644 million in net inflows.
Text source: The Crypto Basic
