BlackRock Expands Bitcoin ETP to Europe Following U.S. Market Success

BlackRock, the world’s largest asset manager, is bringing its bitcoin exchange-traded product (ETP) to Europe, marking a significant step in its global cryptocurrency investment strategy. The launch follows the impressive performance of its U.S. spot bitcoin ETF, which has gained considerable traction since its debut last year.

The iShares Bitcoin ETP will be available on three major European exchanges: Euronext Paris and Xetra under the ticker "IB1T," and Euronext Amsterdam under "BTCN." This expansion signals BlackRock’s first venture into crypto-backed ETPs beyond North America, highlighting growing institutional interest in digital assets.

According to iShares, the ETP is fully backed by bitcoin held in cold storage by Coinbase Custody International Ltd., ensuring robust security measures. Bloomberg reports that this move strengthens BlackRock’s foothold in the European crypto investment market.

BlackRock's existing U.S. spot bitcoin ETF, the iShares Bitcoin Trust, has seen tremendous success, amassing $50.69 billion in net assets with cumulative net inflows of $39.8 billion as of Monday. This makes it the largest U.S. spot bitcoin ETF to date. Additionally, U.S. spot bitcoin ETFs have experienced a streak of positive net inflows, with seven consecutive days of gains. On Monday alone, these ETFs recorded $84 million in net inflows, with a total trading volume reaching $1.97 billion, according to data from SoSoValue.

The European launch of BlackRock’s bitcoin ETP underscores the increasing demand for regulated cryptocurrency investment vehicles and paves the way for broader institutional participation in the digital asset space.