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- BlackRock is launching iShares Bitcoin ETP IB1T on major European exchanges.
- The product offers regulated Bitcoin exposure without direct ownership, backed by cold-storage holdings.
BlackRock, the world’s largest asset manager, is bridging crypto and traditional finance with its new iShares Bitcoin ETP IB1T. Notably, listed on Deutsche Börse, Xetra, Euronext Paris, and Amsterdam, the product gives European investors a secure, regulated way to invest in Bitcoin, mirroring the success of BlackRock’s U.S. Bitcoin ETF.
It is worth noting that in the US, the iShares Bitcoin Trust ETF (IBIT) was one of the first to launch after the Securities and Exchange Commission (SEC) approved spot bitcoin ETFs in January 2024. Now, IBIT houses a whopping $57B.
A Low-Cost Option
The ETP starts with a 0.15% fee, rising to 0.25% after a temporary waiver, matching competitors like CoinShares and WisdomTree. It’s backed by Bitcoin and held in cold storage via Coinbase, ensuring security.
Jane Sloan, BlackRock’s EMEA head, emphasized its role in connecting crypto and traditional markets;
With 25 million cryptocurrency investors across Europe, we believe ETPs have an important role to play to build a bridge between crypto and traditional finance through their efficiency and convenience. Alongside ease of access, the iShares Bitcoin ETP is built to provide institutional grade security for bitcoin holdings for investors in Europe.
Bitcoin’s Growing Demand
BlackRock’s move follows surging institutional interest. A recent survey found 75% of professional investors would consider Bitcoin ETPs within two years. While Europe’s crypto ETP market is smaller than the U.S., the firm sees untapped potential.
Regulatory shifts like U.S. Bitcoin ETF approvals and political support have fueled positivity in the markets. Recently, In a recorded address to attendees of the Digital Asset Summit in Manhattan, the President reaffirmed his support for the crypto industry, describing it to be “as big as you can get.”
He restated his administration’s efforts in fostering a more crypto-friendly environment and said that certain regulatory measures taken against crypto had gone “far beyond regulation.”
Since taking office in January, the new administration has signed two executive orders relating to the industry and has also formed the highly discussed strategic bitcoin reserve, he said during the campaign.
New Crypto Products
White-label ETF provider HANetf has introduced Europe’s first leveraged cryptocurrency exchange-traded commodities (ETCs) along with a short bitcoin strategy. These new trading tools offer a cost-effective alternative to spread betting or contracts-for-difference for those speculating on volatile crypto assets.
The 2x Long Bitcoin ETC (2LBT), 2x Long Ethereum ETC (2LET), and 2x Short Bitcoin ETC (2SBT) are now listed on the Nasdaq Sweden exchange, each carrying a total expense ratio (TER) of 2%.
At the time of writing, Bitcoin is trading at $87,338, down 0.36% in the last 24 hours, with a trading volume of $32.24B.
