BlackRock Launches Bitcoin ETP in Europe, Listed as IB1T and BTCN, With Coinbase as Custodian

BlackRock Inc., the world's largest asset manager, has launched its first Bitcoin exchange-traded product (ETP) in Europe. The iShares Bitcoin ETP, listed under the ticker IB1T on Xetra and Euronext Paris, and BTCN on Euronext Amsterdam, expands BlackRock's presence into European crypto markets. This follows the success of its U.S. Bitcoin fund, which has net assets of over $50 billion and cumulative net inflows of just under $40 billion.

The European ETP, domiciled in Switzerland, offers investors access to Bitcoin with a temporary fee reduction to 0.15% until the end of 2025. Coinbase serves as the custodian for the product, while BNY Mellon acts as the administrator, mirroring the structure of BlackRock's U.S. Bitcoin ETF, which is one of the 12 spot bitcoin ETFs listed in the U.S.

This launch provides regulated access to cryptocurrency markets for both institutional and retail investors in Europe, aiming to capitalize on the growing demand for crypto exposure in the region.

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