The financial giant, BlackRock (BLK.N), has launched its inaugural bitcoin exchange-traded product (ETP) in Europe. This move is designed to capitalize on the increasing demand for cryptocurrency exposure within new markets. The launch follows BlackRock’s success in the United States, where it has attracted over $50 billion into similar products.
According to an online BlackRock product page, the new ‘iShares Bitcoin ETP’ is based in Switzerland and available on exchanges in Paris, Amsterdam, and Frankfurt. BlackRock previously announced its intention to launch the product last month. The company has yet to make any official comments about these developments.
BlackRock was among the first institutional investors to offer exchange-traded products in the U.S. that track Bitcoin’s spot price after the Securities and Exchange Commission gave its initial approval in January 2024. For this latest ETP, BlackRock has partnered with Coinbase as its custodian and Bank of New York Mellon as the administrator, as stated on the product page.
