Latest news with #iSharesBitcoinETP
Yahoo
26-03-2025
- Business
- Yahoo
BlackRock to List Bitcoin ETP in Europe in First Crypto Foray Outside U.S.
BlackRock (BLK), the global asset manager behind the largest U.S. spot bitcoin (BTC) exchange-traded fund (ETF), listed a bitcoin exchange-traded product (ETP) in Europe on Tuesday, its first crypto ETP outside North America. The iShares Bitcoin ETP started trading on Xetra and Euronext in Paris under the ticker IB1T and on Euronext Amsterdam as BTCN, according listing details on iShares' website. The company's iShares Bitcoin Trust ETF (IBIT) is by far the largest of the 12 spot bitcoin ETFs listed in the U.S., with net assets worth over $50 billion and cumulative net inflows of just under $40 billion, according to data tracked by SoSoValue. An equivalent product listed in Canada in January. Although the listing of bitcoin ETFs in the U.S. at the start of 2024 was considered a watershed moment for the crypto industry, similar products have existed in Europe for several years as ETPs. Digital asset managers CoinShares and 21Shares have led the way, accounting for nine of the top 20 ETPs by assets between them, according to data tracked by ETFbook. CoinShares Physical Bitcoin ETP is the largest, with $1.3 billion under management and a 0.25% fee. Coinbase (COIN), which provides custody for IBIT, will do the same for the BlackRock's European product. The fee for the European ETP is temporarily reduced by 10 basis points to 0.15% until the end of 2025. BlackRock's ETP introduction was reported earlier by Bloomberg. UPDATE (March 25, 11:34 UTC): Adds trading started in first paragraph, Canada ETF in third, European industry in fourth. Sign in to access your portfolio
Yahoo
25-03-2025
- Business
- Yahoo
BlackRock Debuts New Physical Bitcoin ETP in Europe
BlackRock has announced its widely anticipated entry into Europe's cryptocurrency exchange-traded product (ETP) market with a physically backed Bitcoin strategy. The iShares Bitcoin ETP (IB1T) debuts with total expense ratio (TER) of 0.15%, but this will rise to 0.25% at year-end when the temporary fee waiver ends. Domiciled in Switzerland and backed by Bitcoin held in cold storage through Coinbase, IB1T trades on Deutsche Boerse, Euronext Paris and Euronext Amsterdam. The ticker mirrors that of the firm's US-listed Bitcoin ETF—the iShares Bitcoin Trust ETF (IBIT)—which at $50.7 billion in assets under management (AUM) is around three times the size of the second-largest US spot Bitcoin ETF. The U.S. regulator's decision to approve Bitcoin ETFs in January 2024 helped power the cryptocurrency to new highs. It received a fresh boost in November when President Donald Trump, who is thought to have a favourable stance on digital assets, was elected. Bitcoin broke through the $100,000 mark for the first time in December but has been under pressure in recent weeks, currently trading around $87,000. The world's largest asset manager said the decision to expand its crypto ETP offering to Europe was grounded in data. A recent survey conducted in partnership with Focal Data found that 75% of professional investors would be interested in a Bitcoin ETP within the next two years. Jane Sloan, EMEA head of global product solutions at BlackRock, said, 'With 25 million cryptocurrency investors across Europe, we believe ETPs have an important role to play to build a bridge between crypto and traditional finance through their efficiency and convenience. 'Alongside ease of access, the iShares Bitcoin ETP is built to provide institutional-grade security for Bitcoin holdings for investors in Europe.' With a TER of 0.25%, BlackRock comes in at the market rate for physical Bitcoin ETPs in Europe, with CoinShares, WisdomTree and Invesco all recently dropping their fees to that level as part of a fee war in the space. Europe's crypto ETP market remains substantially smaller than in the U.S., with the largest product housing just $1.3 billion in AUM. Earlier this month, white-labeler HANetf unveiled Europe's first leveraged Bitcoin and Ethereum ETCs. This article was originally published at sister publication ETF | © Copyright 2025 All rights reserved
Globe and Mail
25-03-2025
- Business
- Globe and Mail
BlackRock Launches First Bitcoin (BTC) Product in Europe
U.S. asset manager BlackRock (BLK) has launched its first Bitcoin (BTC) exchange-traded product (ETP) in Europe as it looks to expand its cryptocurrency offerings beyond North America. Light Up your Portfolio with Spark: Easily identify stocks' risks and opportunities. Discover stocks' market position with detailed competitor analyses. The world's biggest investment firm with more than $10 trillion of assets under management already runs the largest spot Bitcoin exchange-traded fund (ETF) in America, known as the iShares Bitcoin Trust ETF (IBIT). Now, BlackRock is pushing into Europe, listing a Bitcoin exchange-traded product (ETP) in what is its first crypto expansion outside of North America. The company has launched its iShares Bitcoin ETP, which is domiciled in Switzerland and listed on exchanges in Paris, Amsterdam, and Frankfurt. BlackRock's iShares Bitcoin Trust ETF is by far the largest of about a dozen spot Bitcoin ETFs listed in the U.S., with net assets or more than $50 billion. European Market In Europe, products similar to crypto ETFs are known as exchange-traded products (ETPs) and have been around for several years. Digital asset managers CoinShares and 21Shares currently account for nine of the top 20 crypto ETPs listed in Europe. CoinShares Bitcoin ETP is the largest on the continent with $1.30 billion of assets under management and a 0.25% management fee. Crypto exchange Coinbase Global (COIN), which provides custody for BlackRock's IBIT ETF in the U.S., will do the same for the European-listed product. The fee for BlackRock's European ETP is 0.15% until the end of 2025. The stock of BlackRock has risen 22% over the past 12 months. Is BTC a Buy? Most Wall Street firms don't offer ratings or price targets on Bitcoin, so we'll look at the cryptocurrency's three-month performance instead. As one can see in the chart below, the price of BTC has declined 7.63% in the last 12 weeks. Questions or Comments about the article? Write to editor@
Zawya
25-03-2025
- Business
- Zawya
BlackRock launches first bitcoin product in Europe
BlackRock has launched its first bitcoin exchange-traded product in Europe, in a bid to tap growing demand for cryptocurrency exposure in new markets after attracting more than $50 billion into similar products in the United States. The world's largest asset manager has launched its 'iShares Bitcoin ETP', according to a BlackRock product page online, which is domiciled in Switzerland and listed in Paris, Amsterdam and Frankfurt. Reuters previously reported on the planned launch last month. BlackRock declined to comment. 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 Securities and Exchange Commission first approved them in January 2024. It has partnered with Coinbase as custodian and Bank of New York Mellon as administrator on the latest product, the page said. (Reporting by Iain Withers; Editing by Kirsten Donovan)
Yahoo
25-03-2025
- Business
- Yahoo
BlackRock launches first bitcoin product in Europe
LONDON (Reuters) - BlackRock has launched its first bitcoin exchange-traded product in Europe, in a bid to tap growing demand for cryptocurrency exposure in new markets after attracting more than $50 billion into similar products in the United States. The world's largest asset manager has launched its 'iShares Bitcoin ETP', according to a BlackRock product page online, which is domiciled in Switzerland and listed in Paris, Amsterdam and Frankfurt. Reuters previously reported on the planned launch last month. BlackRock declined to comment. 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 Securities and Exchange Commission first approved them in January 2024. It has partnered with Coinbase as custodian and Bank of New York Mellon as administrator on the latest product, the page said. Sign in to access your portfolio
