BlackRock has just launched a Bitcoin exchange-traded product (ETP) in Europe, its first cryptocurrency ETP outside North America.
The iShares Bitcoin ETP will be available on Xetra and Euronext Paris under the ticker IB1T, and on Euronext Amsterdam as BTCN, according to the iShares website.
BlackRock's iShares Bitcoin Trust (IBIT) ETF is the largest of the 12 US spot Bitcoin ETFs, with net assets in excess of $50 billion and cumulative net inflows of nearly $40 billion.
Coinbase, custodian of IBIT, will also take custody of the European product.
The product offers a temporary 10% discount on fees and a reduced expense ratio until the end of 2025. This is their first step in expanding the company's crypto ETP product line.