BlackRock Plans to Launch Bitcoin ETP in Europe, First Attempt at Cryptocurrency Product Outside US
BlackRock's IBIT is currently the largest of 12 spot Bitcoin ETFs listed in the U.S., with net assets exceeding $50 billion.
Author: Jamie Crowley | Edited by: Sheldon Reback Updated: March 25, 2025, 11:34 UTC Published: March 25, 2025, 9:05 UTC
Key points:
- BlackRock is preparing to launch a Bitcoin product on an exchange in Europe.
- The iShares Bitcoin ETP will trade on Xetra and Euronext Paris under the ticker IB1T, and on Euronext Amsterdam under the ticker BTCN.
- This product has a temporary 10 basis point forbearance fee, which will reduce the fee to 0.15% by the end of 2025.
BlackRock (BLK), the global asset manager behind the largest U.S. Bitcoin ETF (BTC), announced the launch of a Bitcoin ETP in Europe on Tuesday, becoming the first cryptocurrency ETP to debut outside of North America.
According to the iShares website, iShares Bitcoin ETP tokens have begun trading on the Xetra and Euronext Paris exchanges under the ticker IB1T, as well as on Euronext Amsterdam under the ticker BTCN.
The iShares Bitcoin Trust ETF (IBIT) is the largest of 12 spot bitcoin ETFs listed in the U.S., with net assets exceeding $50 billion and total net inflows of just under $40 billion, according to data tracked by SoSoValue. A similar product was listed in Canada in January.
While the launch of a Bitcoin ETF in the US in early 2024 is a major event for the crypto industry, similar products have been around in Europe in the ETP format for several years.
The leaders in this space are digital asset managers CoinShares and 21Shares, which control nine of the top 20 ETPs by assets, according to data from ETFbook. The CoinShares Physical Bitcoin ETP is the largest, with $1.3 billion in assets and a fee of 0.25%.
Coinbase (COIN), which provides custody services for IBIT, will also perform similar functions for BlackRock's European product. The fee for the European ETP has been temporarily reduced by 10 basis points to 0.15% until the end of 2025.
Bloomberg previously reported on the launch of BlackRock's ETP.
UPDATE (March 25, 11:34 UTC): Added trading start data in the first paragraph, Canadian ETF information in the third, and European industry information in the fourth.
