BlackRock is introducing a Bitcoin ETP for customers in Europe!
According to Bloomberg, the iShares Bitcoin ETP (IB1T) will feature a six-month fee exemption, lowering the fee ratio to 0.1%. Following the exemption, the fee will be 0.25%, matching CoinShares’ $1.3 billion physical Bitcoin offering, the biggest crypto ETP in Europe.
This debut comes after the success of BlackRock’s iShares Bitcoin Trust (IBIT) in the United States, which has amassed billions in assets and is the fastest-growing ETF in market history, allocating $48 billion in 2024, per VettaFi.
BlackRock is penetrating the European crypto market TruBit Collaborates with Morpho to Introduce DeFi Unearned Revenue in Latin America its initial Bitcoin exchange-traded offering, trading on the Xetra and Euronext Paris exchanges under the code IB1T and on the Euronext Amsterdam exchange under the code BTCN, signifying its growth beyond North America.
Manuela Sperandeo, Head of iShares Products at BlackRock Europe, Middle East, stated the offering reflects “what can truly be viewed as a turning point for the sector – the established need from retail investors paired with more professionals truly joining in.”
BlackRock affirmed in a Bloomberg commentary that Coinbase will remain to act as custodian of the physical Bitcoin backing the ETP. The offering is particularly created for institutional and sophisticated retail investors and will be issued via a special purpose vehicle situated in Switzerland.
BlackRock’s introduction of its initial Bitcoin ETP in Europe signifies its initial venture into crypto-related ETPs outside of North America, providing a 6-month fee exemption of 0.1%.
