Global asset management giant BlackRock has officially entered the European market with its iShares Bitcoin ETP (IBIT), marking a significant milestone for institutional crypto adoption. The new offering will be available on Xetra and Euronext Paris under the ticker IBIT starting this Tuesday, with an additional listing on Euronext Amsterdam.
BlackRock’s Bitcoin ETP Hits European Markets
Following the successful launch of Bitcoin ETFs in the U.S., BlackRock is now targeting European investors with its Bitcoin ETP. According to a Bloomberg report on March 25, the firm’s latest crypto-backed product will feature a temporary fee waiver of 10 basis points, reducing its expense ratio to 0.15% until the end of the year.
Manuela Sperandeo, head of Europe & Middle East iShares Product at BlackRock, emphasized the industry’s shifting landscape, stating, “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.”
With its U.S. iShares Bitcoin Trust (IBIT) amassing $50.96 billion in net assets, BlackRock’s expansion into Europe signals growing confidence in Bitcoin’s role as a mainstream financial asset. The move is expected to enhance liquidity and drive institutional participation in European markets.
Crypto Adoption Surges in Europe
BlackRock’s European expansion comes amid a growing appetite for crypto investment across the region. Recently, 21Shares launched Bitcoin, Solana, and XRP ETPs on Nasdaq Stockholm, further fueling institutional interest. The introduction of BlackRock’s IBIT ETP adds to the region’s increasing embrace of digital assets, reinforcing bullish market sentiment.
Bitcoin Price Eyes Breakout
At the time of writing, Bitcoin is trading at $87,266, up from $86,346.08 earlier in the day, with a 24-hour high of $88,758.73. Market analysts foresee a potential bullish breakout, particularly in light of BlackRock’s expansion and recent capital inflows into the crypto space.
Crypto strategist Michael Saylor’s firm also raised $722 million in a Series A funding round to acquire Bitcoin, further strengthening positive market sentiment. However, renowned analyst Ali Martinez cautioned that Bitcoin faces crucial resistance at $89,000, with a break above this level necessary for further gains.
As institutional adoption accelerates, BlackRock’s Bitcoin ETP in Europe could mark a pivotal moment for mainstream crypto investment.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: Bitcoin Rises to $85K as BlackRock Predicts BTC Boom Amid Recession Fears
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
