BlackRock (BLK), the international asset management company responsible for the largest U.S. spot bitcoin (BTC) exchange-traded fund (ETF), is preparing to launch a bitcoin exchange-traded product (ETP) in Europe, marking its first foray into cryptocurrency ETPs outside North America.
The iShares Bitcoin ETP is set to begin trading on Xetra and Euronext in Paris under the ticker symbol IB1T, and on Euronext Amsterdam as BTCN on Tuesday, as detailed on the iShares website.
The iShares Bitcoin Trust ETF (IBIT) is currently the largest of the twelve spot bitcoin ETFs available in the U.S., boasting net assets exceeding $50 billion and cumulative net inflows nearing $40 billion.
Coinbase (COIN), which manages custody for IBIT, is also set to provide the same services for the European product.
The fee associated with the European ETP is temporarily lowered by 10 basis points to 0.15% until the end of 2025.
Bloomberg had previously reported on the introduction of the ETP.