A new Bitcoin move came from the world's largest asset management company, BlackRock.
According to Bloomberg, global giant BlackRock announced that it has launched a Bitcoin ETP in Europe.
The new product, iShares Bitcoin ETP, will be listed and offered for sale on Germany’s Xetra Exchange and Paris Euronext under the ticker IBIT, and on Amsterdam Euronext under the ticker BTCN on March 25.
Bitcoin ETP will temporarily impose a 10 basis point exemption fee, which will be reduced to 0.15% by the end of 2025.
BlackRock said cryptocurrency exchange Coinbase is the custodian.
BlackRock’s Bitcoin ETP is the first crypto ETP outside of North America, while BlackRock’s iShares Bitcoin Trust ETF (IBIT) is by far the largest of the 12 spot Bitcoin ETFs listed in the U.S. IBIT has a net asset value of over $50 billion.
“This reflects what can be seen as a real turning point in the industry, with more professionals now coming into the industry, combined with established demand from retail investors,” said Manuela Sperandeo, Head of iShares Product at BlackRock Europe and Middle East.
*This is not investment advice.
