BlackRock to Launch Bitcoin ETP in Europe

BlackRock, the world’s largest asset management firm, is set to launch a Bitcoin exchange-traded product (ETP) in Europe, after a successful feat with Bitcoin spot ETF in the US which holds $48 billion in assets.

BlackRock Launches Bitcoin ETP in Europe

According to reports, the new iShares Bitcoin ETP will be listed on several major European exchanges, including Germany’s Xetra, and Paris and Amsterdam’s Euronext, with the product expected to trade under the tickers IBIT and BTCN starting March 25.

Unlike traditional ETFs, cryptocurrency tracking products in Europe are generally structured as ETPs, in accordance with European regulatory standards.

This move positions BlackRock alongside other traditional asset managers like DWS, WisdomTree, Fidelity, and Invesco, who have also ventured into the crypto ETP market. The launch follows the approval of spot Bitcoin ETFs by the US Securities and Exchange Commission (SEC) in January 2024, with BlackRock’s iShares Bitcoin Trust ETF (IBIT) being one of the first to market, now managing $57 billion in assets.

The approval of spot Bitcoin ETFs in the US has spurred a fee reduction trend among European crypto ETPs, with firms like CoinShares, WisdomTree, and Invesco announcing fee cuts. The fee competition continues as the market shows no signs of slowing. Meanwhile, the European Securities and Markets Authority (ESMA) issued a warning regarding the volatile nature of crypto assets, particularly in light of Bitcoin’s recent price surge.

Experts predict significant growth in Bitcoin’s value, with Michael Howell, Managing Director at CrossBorder Capital, predicting the cryptocurrency could reach $250,000 in the next three to five years as confidence in the US Treasury market wanes.

Also Read: BlackRock Launches Spot BTC ETF on Cboe Canada Exchange

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Ritu Lavania

Ritu Lavania is a versatile Web3 content creator with over three years of experience in the crypto space. She is part of the team at CryptoNewsZ, where she writes insightful and engaging content. She has also contributed to TheCryptoTimes and The Coin Edition, where her work has been well received by the crypto community. Skilled in research, creative writing, SEO, and cross-functional collaboration, she creates content tailored to diverse audiences. Passionate about education, she dedicates time to teaching kids and expressing herself through poetry. Always eager to learn, she continuously explores new trends in blockchain and digital assets. She believes in the power of storytelling to make complex crypto topics more accessible and engaging for readers worldwide.