Étienne Girard
BlackRock is officially launching its bitcoin exchange-traded product (ETP) in Europe today, building on the strong performance of its U.S. spot Bitcoin ETF, which debuted last year.
The newly introduced iShares BTC ETP will be available for trading under the ticker “IB1T” on Euronext Paris and Xetra, while Euronext Amsterdam will list it under “BTCN” on the same day.
BlackRock’s First Crypto-Backed ETP Outside North America
According to iShares, the ETP is fully backed by bitcoin held in cold storage by Coinbase Custody International Ltd.. The launch marks BlackRock’s first venture into crypto-backed ETPs outside North America, as reported by Bloomberg.
In the U.S., BlackRock’s iShares Bitcoin Trust (IBIT) has achieved significant traction, with total net inflows reaching $39.8 billion and net assets under management surpassing $50.69 billion as of Monday—solidifying its position as the largest spot Bitcoin ETF in the U.S.
Growing Demand for Bitcoin ETFs
The European debut comes amid strong momentum in the U.S. spot Bitcoin ETF market, where funds have experienced seven consecutive days of positive inflows. On Monday alone, U.S. spot Bitcoin ETFs saw a net inflow of $84 million, with total trading volume hitting $1.97 billion, according to data from SoSoValue.
With this expansion, BlackRock aims to capitalize on the increasing global demand for institutional bitcoin investment, bringing regulated crypto exposure to European markets.
