BlackRock Enters European Crypto Market with Bitcoin ETP

Global asset management giant BlackRock Inc. is expanding its presence in the cryptocurrency market with the launch of a new Bitcoin exchange-traded product (ETP) in Europe—its first crypto-linked investment vehicle outside North America.

The new product, named the iShares Bitcoin ETP, will be listed on Xetra and Euronext Paris under the ticker IB1T, and on Euronext Amsterdam as BTCN, starting Tuesday. The ETP will debut with a promotional fee of 0.15%—thanks to a temporary 10 basis point waiver that lasts through the end of the year.

A Strategic Step Beyond the U.S. Market

This move follows the explosive success of BlackRock’s iShares Bitcoin Trust (IBIT) in the United States, which launched in January 2024 and has since amassed over $48 billion in assets—marking one of the strongest ETF debuts in history. Now, BlackRock is seeking to replicate that momentum across the Atlantic.

While Europe has long hosted a range of crypto-related ETPs, the market remains relatively small in comparison to the U.S., with an estimated size of $13.6 billion. BlackRock’s entry into this space is expected to boost competition and potentially accelerate institutional adoption of Bitcoin-backed products in the region.

“This product reflects a significant evolution in the market,” said Manuela Sperandeo, Head of iShares Product for Europe and the Middle East at BlackRock. “We’re seeing a convergence of sustained retail interest and growing professional investor engagement in the crypto space.”

Designed for Institutions and Informed Retail Investors

The iShares Bitcoin ETP will be physically backed by Bitcoin, with Coinbase Global Inc. serving as the custodian for the underlying digital assets. Issued by a Swiss-based special purpose vehicle, the product is available to both institutional and informed retail investors, providing a secure and regulated channel for Bitcoin exposure.

Once the promotional period ends, the product’s expense ratio will return to 0.25%, putting it on par with some of the most competitively priced crypto ETPs in Europe, including CoinShares’ $1.3 billion Bitcoin ETP.

The Bigger Picture: Crypto in Traditional Finance

BlackRock’s move comes amid a broader shift in traditional finance, with asset managers increasingly integrating digital assets into their product offerings. The firm’s European launch highlights both the growing demand for regulated crypto exposure and the efforts by major institutions to build trust and infrastructure around the asset class.

With this latest development, BlackRock strengthens its position as a key bridge between traditional capital markets and the evolving world of digital finance—highlighting Bitcoin’s growing legitimacy as an asset class for global investors.