The US-based world’s largest asset management company, BlackRock, is all set its bitcoin exchange-traded products in Europe. On Tuesday, the firm shared that its iShares Bitcoin ETP will be launched on the German stock exchange Xetra and the Paris stock exchange Euronext Paris under the ticker IB1T and on the Netherlands stock exchange Euronext Amsterdam under the ticker BTCN.
As reported by Bloomberg, the firm will not charge any fees for a year after the trading begins. After that the firm will charge 0.25% fees. Further, this is the first time that the firm has launched its ETPs outside North America.
“It reflects what really could be seen as a tipping point in the industry, the combination of established demand from retail investors with more professionals now really getting into the fold,” Manuela Sperandeo, BlackRock’s head of Europe & Middle East iShares Product, said of the product’s launch in an interview.
The firm iShares Bitcoin ETF was launched last year in January. It has been by far one of the best launch for the company as it has recorded inflows in billions. BlackRock has selected Coinbase as custodian of the physical Bitcoin backing its iShares ETF.
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