BlackRock, the world’s largest asset manager with over $11 trillion under management, has unveiled its new Bitcoin exchange-traded product (ETP) in Europe through its iShares fund service. Following the resounding success of its U.S.-based Bitcoin funds, this move underscores BlackRock’s commitment to expanding its footprint in the digital asset market.
Bitcoin ETP Details
The iShares Bitcoin ETP (IB1T) has officially launched and is listed on German, French, and Dutch stock exchanges, according to a prospectus on the iShares website. The prospectus specifies:
“Each ETP security corresponds to a specific amount of Bitcoin.”
The product aims to provide investors with exposure to Bitcoin in a format that’s familiar and regulated, catering to increasing institutional and retail demand across Europe.
Custody and Support
For the iShares Bitcoin ETP, BlackRock has partnered with Coinbase, the largest crypto exchange in the U.S., to act as the custodian for the digital assets. This collaboration ensures secure storage and management of Bitcoin tied to the investment vehicle.
Success of BlackRock’s U.S. Bitcoin Funds
The launch of IB1T in Europe follows the roaring success of BlackRock’s U.S.-based Bitcoin funds. The iShares Bitcoin Trust, introduced in 2023, has attracted nearly $40 billion in net inflows, leading among the 11 Bitcoin funds currently trading, according to U.K.-based asset manager Farside Investors.
Spot Bitcoin funds have collectively amassed nearly $100 billion in assets, reflecting the surging popularity of these products as a bridge between traditional finance and cryptocurrencies.
Additionally, BlackRock’s spot Ethereum fund, launched in July 2024, has already surpassed $4 billion in assets, further solidifying the firm’s leadership in crypto ETFs.
Tokenized Assets on Solana Blockchain
In a separate development, tokenization platform Securitize announced the expansion of BlackRock’s $1.7 billion tokenized treasury fund (BUIDL) onto the Solana blockchain.
Marking the first anniversary of BUIDL’s launch, Securitize revealed a new share class on the Solana network. The company described this move as a key milestone in advancing institutional adoption of tokenized real-world assets.
Impact on Institutional Adoption
BlackRock’s strategic focus on cryptocurrencies and tokenized assets highlights the growing institutional appetite for blockchain-based financial products. By leveraging established platforms like Solana and partnering with trusted custodians such as Coinbase, BlackRock is shaping the path for the broader adoption of digital assets in traditional finance.
Conclusion
The launch of the iShares Bitcoin ETP in Europe reaffirms BlackRock’s leadership in the crypto market. With a proven track record of successful Bitcoin and Ethereum funds, the firm continues to bridge the gap between traditional finance and blockchain innovation, driving institutional confidence in the emerging digital asset class.
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