Introduction
On March 25, 2025, BlackRock rolled out its iShares Bitcoin ETP across Europe, marking its debut cryptocurrency-backed product outside North America. This follows the triumph of its U.S.-based spot Bitcoin ETF, IBIT.
The ETP trades on Euronext Paris and Xetra Frankfurt as IB1T, and on Euronext Amsterdam as BTCN, with Bitcoin secured in cold storage by Coinbase Custody International. Meanwhile, BlackRock extended its BUIDL tokenized fund to the Solana blockchain, now spanning seven networks.
What is BlackRock?
BlackRock, the globe’s top asset management firm, calls New York home. Launched in 1988, it oversees more than $10 trillion in assets worldwide.
Through its iShares brand, BlackRock delivers diverse offerings like investment funds, retirement plans, and cutting-edge digital asset solutions, cementing its status as a powerhouse in the ETF arena and beyond.
Product Details and Strategy
Per Bloomberg, BlackRock is slashing fees with a one-year waiver starting March 25, dropping the expense ratio to 0.15% via a 10 basis point cut until year-end.
Post-waiver, fees will rise to 0.25%. This makes IB1T a cost-competitive option at launch, signaling BlackRock’s bold push into ETPs beyond North America.
Market Significance
This launch is BlackRock’s first crypto-linked ETP venture outside the U.S., a plan Bloomberg flagged earlier.
Manuela Sperandeo, BlackRock’s Head of iShares Products for Europe and the Middle East, noted, “This move signals a key industry shift—blending retail demand with rising professional interest.”
The Cryptocurrency Market and Competition
BlackRock’s IBIT, launched in January 2024, has raked in nearly $40 billion in net inflows, outpacing Fidelity’s FBTC at $11.5 billion to become the U.S.’s biggest spot Bitcoin ETF. Source: Bloomberg
Europe’s $13.6 billion crypto ETP market lags the U.S., despite years of trading. Coinbase Global custodies IB1T’s Bitcoin, issued via a Swiss-based vehicle for institutional and savvy retail investors.
Conclusion
BlackRock’s iShares Bitcoin ETP debut in Europe is a major leap in its digital asset journey. Building on IBIT’s U.S. success, it’s tightening its grip on the global crypto market.
This European push broadens investor access and underscores Bitcoin’s growing legitimacy among financial giants, potentially boosting the cryptocurrency market soon.