BlackRock Expands Crypto Offerings with Bitcoin ETP Launch in Europe

BlackRock, the world’s largest asset management firm, has officially launched its iShares Bitcoin Exchange-Traded Product (ETP) on multiple European stock exchanges. The product, which began trading on March 25, 2025, is available on platforms including Xetra, Euronext Amsterdam, and Euronext Paris. This launch is a significant step in BlackRock's strategy to broaden its crypto offerings beyond the US, following the success of its iShares Bitcoin Trust Exchange-Traded Fund (ETF), which currently manages over $50.7 billion in assets and accounts for approximately 2.73% of the total Bitcoin (BTC) supply.

iShares Bitcoin ETP: Expanding Horizons

The iShares Bitcoin ETP trades under the IB1T ticker on Xetra and Euronext Paris, while on Euronext Amsterdam it is listed under BTCN. This new offering marks BlackRock’s first crypto-related product launch outside of North America, after the success of its Bitcoin ETF on CBOE Canada. According to the official product page, the iShares Bitcoin ETP provides European investors with an easy and regulated way to gain exposure to Bitcoin, much like the firm’s highly popular US-based Bitcoin ETF.

Competitive Fee Structure and Market Impact

One key differentiator for the iShares Bitcoin ETP is its competitive fee structure. Initially, the product comes with a temporary fee waiver of 10 basis points, which reduces the expense ratio to 0.15% until the end of 2025. This is significantly lower than Europe’s leading crypto ETP, the CoinShares Physical Bitcoin ETP, which charges 0.25%. According to Stephen Wundke, director of strategy and revenue at crypto investment firm Algoz, BlackRock's aggressive fee strategy is likely aimed at keeping competitors at bay while encouraging new entrants to challenge the market.

“BlackRock’s move to offer such an attractive fee structure will likely shake up the competition and force other players in the space to offer better deals to stay relevant,” Wundke said. This kind of competition is seen as beneficial to investors and could lead to further innovation in the digital asset market.

Potential for European Family Offices and Institutional Investors

The iShares Bitcoin ETP is designed to provide traditional investors, including family offices across Europe, with an easy way to invest in what some consider “digital gold.” However, as Wundke points out, the reception of the product in Europe may differ from the US, as European investors already have more access to high-quality crypto investment products, and Bitcoin is relatively easier to purchase. Still, the ability for European family offices to diversify their portfolios with digital assets like Bitcoin represents a significant step in the growing acceptance of cryptocurrency as an asset class.

European Regulatory Stability Fuels BlackRock’s Confidence

The launch of the iShares Bitcoin ETP also reflects BlackRock’s confidence in the regulatory environment in Europe. Ajay Dhingra, head of research at decentralized exchange aggregator Unizen, emphasized that the European Union's Markets in Crypto-Assets (MiCA) regulation provides much-needed stability compared to the more inconsistent digital asset policies in the United States.

“While US digital asset policy has fluctuated over time, the EU has steadily embraced blockchain adoption, offering the kind of regulatory certainty companies need,” Dhingra said. The MiCA framework, which aims to regulate crypto markets and ensure investor protection, has been seen as a welcoming move for crypto companies looking for clear guidelines.

BlackRock's Expanding Crypto Portfolio

BlackRock’s foray into the European crypto market comes on the heels of other significant developments in the firm’s crypto strategy. A recent earnings report revealed that BlackRock manages over $11.55 trillion in assets, with its Bitcoin ETF and Grayscale Ethereum Trust ETF, which has $3.46 billion in assets under management, being among the firm's top crypto-related investment vehicles.

In addition to the Bitcoin ETP, BlackRock has also launched its Grayscale Ethereum Trust ETF, further solidifying its position in the crypto space. As of now, its Bitcoin ETF remains the largest of its kind in the US, with no signs of slowing down as the company continues to expand its offerings globally.

Looking Forward

The launch of the iShares Bitcoin ETP in Europe marks a new chapter for BlackRock as it looks to solidify its position in the growing crypto market. As digital assets become increasingly integrated into mainstream finance, products like the iShares Bitcoin ETP are expected to attract more institutional and retail investors alike. While the immediate reaction in Europe may not mirror the excitement seen in the US, the availability of high-quality, regulated crypto investment products is sure to have a positive long-term impact on the market.

For more information about BlackRock’s crypto offerings, visit their official website.