BlackRock, the world’s largest asset manager, has expanded its cryptocurrency offerings to Europe by launching its first Bitcoin exchange-traded product (ETP).
The iShares Bitcoin ETP is domiciled in Switzerland and has listings in Paris, Amsterdam, and Frankfurt.
BlackRock's European Bitcoin ETP aims to meet the growing demand for institutional-grade crypto investment products and provides European investors with exposure to Bitcoin without directly holding the asset.
With a competitive fee structure, the new ETP offers a temporary fee waiver of 10 basis points and aims to challenge existing crypto investment products in Europe.