On March 25, 2025, BlackRock – the global asset management giant – officially listed its Bitcoin exchange-traded product (ETP) in Europe, marking their first step into the crypto space outside North America. With the iShares Bitcoin ETP listed on Xetra, Euronext Paris (ticker IB1T), and Euronext Amsterdam (BTCN), this move not only expands BlackRock's influence but also energizes the European crypto market. The temporary fee reduction to 0.15% until the end of 2025 – is this a lure for investors, or does it hide greater ambitions?


iShares Bitcoin ETP: Grand Launch in Europe

#BlackRock⁩ launching iShares Bitcoin ETP on three major exchanges: Xetra (Germany), Euronext Paris (France), and Euronext Amsterdam (Netherlands). This product, according to information from the iShares website, starts trading on Tuesday, with ticker IB1T in Paris and Xetra, BTCN in Amsterdam. The highlight? The management fee is temporarily reduced by 10 basis points, down to 0.15% until the end of 2025 – lower than CoinShares Physical Bitcoin ETP's 0.25%, the current leading product in Europe with $1.3 billion in assets.


Coinbase – the custodian for the iShares Bitcoin Trust (IBIT) in the U.S. – continues to take on this role for the European ETP, ensuring Bitcoin is held securely. This is the first time BlackRock has brought a crypto ETP product outside North America, following the tremendous success of IBIT in the U.S. and Canada.


IBIT: The 'King' of Bitcoin ETFs in the U.S.

In the U.S., BlackRock's IBIT is the largest spot Bitcoin ETF among 12 funds, with net assets exceeding $50 billion and cumulative capital flows nearing $40 billion (according to SoSoValue). Launched in January 2024, #IBIT quickly became a phenomenon, marking a pivotal moment for the crypto industry when the SEC approved spot Bitcoin ETFs. A similar product is also listed in Canada in January 2025, reinforcing BlackRock's position in North America. With the current Bitcoin market cap around $1.7 billion (~$88,000/BTC, March 25), IBIT accounts for nearly 3% of the total BTC supply – an impressive figure for a fund less than 15 months old.


Europe: ETP Market Available, But Still Small

Unlike the U.S., Bitcoin ETPs have existed in Europe for many years, led by CoinShares and 21Shares – accounting for 9 of the 20 #ETP largest (ETFbook). CoinShares Physical Bitcoin ETP currently manages $1.3 billion with a fee of 0.25%, but the total crypto ETP assets in Europe are only about $13.6 billion – small compared to the U.S. BlackRock is entering with a competitive fee of 0.15% (temporarily) to challenge 'giants' like CoinShares, while attracting institutional and individual investors.


Why Did BlackRock Choose This Moment?


  • IBIT Success: With $50 billion in the U.S., BlackRock sees potential to replicate the model in Europe, where demand for crypto is rising but the market remains fragmented.


  • Low Fees: A reduction to 0.15% until 2025 is a 'bait' to compete with CoinShares (0.25%), targeting capital flows from cost-sensitive investors.


  • Trump & Crypto: The Trump administration's friendliness towards crypto (holding BTC, opposing the Fed) creates a favorable environment for BlackRock's global expansion.



Bloomberg had predicted this move earlier, suggesting the plan was well-prepared.


Impact on the Crypto Market


  • Bitcoin: Price $BTC could find support if ETP attracts significant capital, despite currently being down 11% from the monthly peak (~$95,000).


  • Europe: BlackRock's ETP legitimizes crypto, potentially driving small funds to compete by reducing fees.


  • BLK Stock: Assets under management reached $11.6 billion Q4/2024, with crypto expansion potentially pushing stock prices up amid optimistic sentiment.


Not Small Risks


  • Volatility: BTC dropping from $100,000 (December 2024) to $88,000 shows risks that could affect capital flows into ETP.


  • Competition: CoinShares, 21Shares have established footholds, and BlackRock needs a strong strategy to capture market share.


  • Regulation: Although friendlier under Trump, Europe may still tighten crypto laws, posing long-term challenges.



Conclusion: Is BlackRock Shaping the Future of Crypto in Europe?

The iShares Bitcoin ETP launch with a fee of 0.15% is a strong strike by BlackRock into the European ETP market, leveraging the success of IBIT ($50 billion) to expand its influence. Coinbase as custodian, competitive fees, and a 'Trump-friendly' timing all provide advantages. But amidst BTC volatility and fierce competition, the big question is: Will BlackRock turn Europe into the next 'crypto goldmine', or is this just a risky test move? With tickers IB1T and BTCN, investors are waiting to see what this 'giant' will accomplish!


Risk Warning: Crypto investment carries high risks due to price volatility. Please consider carefully before participating.