BlackRock Expands Bitcoin Investment Options with New ETP Launch in Europe

BlackRock, the world's largest asset manager, has launched its iShares Bitcoin ETP (IB1T) in Europe, marking a significant expansion of cryptocurrency investment opportunities for European investors. The ETP is listed on German, French, and Dutch stock exchanges. Coinbase will custody the digital assets. This move follows the success of U.S.-based Bitcoin funds, where BlackRock's iShares Bitcoin Trust has generated nearly $40 billion in net inflows since January 2024. The European ETP is physically backed by Bitcoin held in cold storage and has a total expense ratio (TER) of 0.15%, which will increase to 0.25% at year-end. A recent survey indicated that 75% of professional investors are interested in Bitcoin ETPs within the next two years, driving BlackRock's decision to expand its crypto ETP offering to Europe. BlackRock's US-listed Bitcoin ETF (IBIT) has $50.7 billion in assets under management.