BlackRock debuts Bitcoin exchange-traded product in Europe
BlackRock Inc., the world’s largest asset manager, is launching a Bitcoin exchanged-traded product in Europe, following the success of its $48 billion US fund tracking the cryptocurrency.
The iShares Bitcoin ETP will list on Xetra and Euronext Paris under the ticker IB1T and on Euronext Amsterdam under BTCN on Tuesday, the company said in a statement. The product will debut with a temporary fee waiver of 10 basis points — reducing its expense ratio to 0.15% until the end of the year.
The European instrument is BlackRock’s first foray into crypto-linked ETPs outside of North America. Bloomberg News earlier reported BlackRock’s plans.
“It reflects what really could be seen as a tipping point in the industry — the combination of established demand from retail investors with more professionals now really getting into the fold,” Manuela Sperandeo, BlackRock’s head of Europe & Middle East iShares Product, said of the product’s launch in an interview.
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View Details»BlackRock’s US-listed iShares Bitcoin Trust debuted to great fanfare in January last year,
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