Key Bullet Points:
BlackRock Inc., the world’s largest asset manager, is launching a Bitcoin exchange-traded product (ETP) in Europe.
The iShares Bitcoin ETP will list under IB1T on Xetra and Euronext Paris and BTCN on Euronext Amsterdam.
Temporary fee waiver: 10 basis points, reducing the expense ratio to 0.15% until year-end.
BlackRock’s first crypto-linked ETP in Europe, following its $48 billion US Bitcoin fund.
Coinbase Global Inc. will provide custody for the physical Bitcoin backing the ETP.
Open to institutional and informed retail investors, issued by a Switzerland-based special-purpose vehicle.
The European crypto ETP market is valued at $13.6 billion, much smaller than the US market.
BlackRock's US-listed iShares Bitcoin Trust had a record-breaking launch in January 2024
