Financial Insights That Matter
Key Takeaways
- BlackRock launches its first crypto-linked ETP in Europe trading on Xetra and Euronext as IB1T.
- The European Bitcoin ETP features a temporary fee waiver, making it cost-effective at 0.15%.
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BlackRock, a leading global asset manager, has introduced a Bitcoin ETP in Europe, building on the success of its US-listed spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), which has amassed $50.6 billion in assets under management as of the latest data.
According to a March 25 report from Bloomberg, the iShares Bitcoin ETP will trade on Xetra and Euronext Paris as IB1T and on Euronext Amsterdam as BTCN.
The product features a temporary fee waiver of 10 basis points, bringing its expense ratio to 0.15% through the end of the year.
The fund is BlackRock’s first crypto-linked ETP outside North America. BlackRock previously launched IBIT and iShares Bitcoin ETF on Cboe Canada.
Manuela Sperandeo, BlackRock’s head of iShares Product for Europe and the Middle East, said that a mix of strong retail demand and growing interest from professional investors is driving real momentum. She added that BlackRock’s move into the European market both reflects this shift and helps push it forward.
While Europe has long established a market for crypto ETPs, with over 160 products tracking various digital assets, its scale remains smaller than that of the US, Bloomberg ETF analyst Eric Balchunas stated in February.
US spot ETFs, despite being only a year old, have captured approximately 91% of global market share, largely attributed to their competitive cost structures and high liquidity.
The analyst suggested that if BlackRock could successfully replicate the US market’s dynamics, substantial market growth is plausible.
However, he noted that risk tolerance among European investors is generally lower compared to their counterparts in the US and certain Asian regions.
Europe barely on leaderboard of spot bitcoin ETFs by size.. US spot ETFs only year old and have 91%(!) share of world. We kick so much ass when it comes to cost and liquidity. If BlackRock brings even some of the US Terrordome over there, should see success, altho keep in mind… pic.twitter.com/fwFDE84rhS
— Eric Balchunas (@EricBalchunas) February 5, 2025
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