BlackRock debuts European Bitcoin ETP as crypto inflows top $50B

BlackRock has launched its first bitcoin exchange-traded product (ETP) in Europe, marking a major expansion of its global crypto investment offerings.

The move comes after its US-listed iShares Bitcoin Trust ETF (IBIT) became the largest spot bitcoin ETF in the market, with net assets surpassing $50 billion and inflows approaching $40 billion.

The new ETP, listed under the ticker IB1T on Xetra and as BTCN on Euronext Paris and Amsterdam, provides European investors with direct exposure to bitcoin.

This launch also coincides with a temporary fee discount for IB1T, set at 0.15% until the end of 2025.

Bitcoin ETF inflows hit $50 billion

BlackRock’s expansion into the European crypto market builds on the success of its US-based iShares Bitcoin Trust ETF.

Since its debut in January 2024, IBIT has recorded nearly $40 billion in net inflows, making it the dominant player among the 12 spot bitcoin ETFs currently trading in the US.

Data from SoSoValue confirms that IBIT leads the pack in both asset size and capital inflows, helping to push overall spot bitcoin ETF assets in the US past the $50 billion mark.

While BlackRock has also offered a similar product in Canada since January, the European listing represents a strategic shift aimed at capturing demand outside North America.

The new iShares Bitcoin ETP began trading on Tuesday and is available on several of the continent’s leading exchanges: Germany’s Xetra, Euronext Paris, and Euronext Amsterdam.

CoinShares leads European ETPs

Although the US market celebrated the arrival of spot bitcoin ETFs in early 2024, Europe’s crypto investment landscape has included ETPs for several years.

Digital asset managers CoinShares and 21Shares have been at the forefront of this space, jointly accounting for nine of the top 20 bitcoin ETPs by assets under management.

According to ETFbook, CoinShares’ Physical Bitcoin ETP currently leads the European market, managing $1.3 billion in assets and offering a competitive 0.25% fee.

The entry of BlackRock into this established European market introduces competition for firms like CoinShares and 21Shares.

However, BlackRock’s reduced fee—set at 0.15% until the end of 2025—may help the iShares Bitcoin ETP attract inflows quickly, especially from institutional investors seeking low-cost exposure to bitcoin.

Coinbase handles ETP custody

Coinbase, the US-based crypto exchange and custodian, will manage custody for the newly launched European ETP, just as it does for IBIT in the US.

Coinbase has been a long-standing partner of BlackRock’s crypto ventures, and its continued role reinforces the alignment between regulated crypto service providers and traditional asset managers.

By leveraging Coinbase’s infrastructure, BlackRock ensures that its European bitcoin ETP maintains similar operational standards to its North American offerings.

This could appeal to European institutional investors focused on regulated custodians and transparent product structures.

The IB1T launch arrives at a time when global institutional interest in bitcoin is surging.

The continued expansion of regulated investment vehicles like ETFs and ETPs reflects the maturing infrastructure of the cryptocurrency market, especially in jurisdictions with clear regulatory frameworks such as Europe and the US.

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