BlackRock has launched its first bitcoin exchange-traded product in Europe to capitalize on the growing demand for cryptocurrency exposure in new markets, having attracted over $50 billion into similar products in the United States.
The world’s largest asset manager introduced the "iShares Bitcoin ETP," according to a dedicated online page for BlackRock's products. The company did not provide any comments when contacted.
The product is based in Switzerland but listed in Paris, Amsterdam, and Frankfurt. BlackRock was one of the first institutional investors to offer exchange-traded products in the U.S. to track the spot price of bitcoin, after the U.S. market regulator (SEC) approved them for the first time in January 2024. It has partnered with Coinbase as the custodian and Bank of New York Mellon as the administrator, according to the online page reviewed by Reuters.
