BlackRock has introduced its first Bitcoin exchange-traded product in Europe, aiming to capitalize on the growing demand for cryptocurrency investments in new markets.
This move follows the asset manager’s success in the United States, where it has attracted over $50 billion into similar products.
The world’s largest asset manager has launched the ‘iShares Bitcoin ETP,’ according to a BlackRock product page, with the fund domiciled in Switzerland and listed in Paris, Amsterdam, and Frankfurt.
Reuters had previously reported on BlackRock’s plans for the European launch last month. The company declined to comment further on the development.
BlackRock was among the first institutional investors to offer exchange-traded products tracking bitcoin’s spot price in the U.S. after the Securities and Exchange Commission approved such products in January 2024.
For its latest offering, BlackRock has partnered with Coinbase as custodian and Bank of New York Mellon as administrator, according to the product page.
