BlackRock, the world’s biggest investment firm, has launched its first Bitcoin exchange-traded product (ETP) in Europe. This move marks a significant step for Bitcoin’s mainstream adoption.
iShares Bitcoin ETP Launches
The new product, called iShares Bitcoin ETP (iB1T), started trading on Tuesday on major European exchanges: Euronext Paris, Euronext Amsterdam, and Xetra in Germany. It’s designed to give both individual investors and large institutions a regulated way to invest in Bitcoin. The ETP is backed by actual Bitcoin, securely held by Coinbase Custody.
A “Tipping Point” for Bitcoin Investment
Manuela Sperandeo, BlackRock’s head of European and Middle Eastern iShares products, called the launch a “tipping point.” She highlighted the growing interest from both everyday investors and professional money managers. This European launch follows the success of BlackRock’s US Bitcoin trust, which has already amassed over $50 billion in assets.
BlackRock’s Continued Bitcoin Commitment
BlackRock’s move into European markets shows its ongoing belief in Bitcoin as a long-term investment. Earlier this month, the firm even added its Bitcoin ETF to some of its model portfolios. A BlackRock portfolio manager noted Bitcoin’s potential for diversification and long-term value.
Disclaimer: This information is for general knowledge only and is not financial advice. Investing in cryptocurrencies is risky, so always do your own research before investing.
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