Following the successful launch of its spot Bitcoin ETF in the US, BlackRock is now launching a Bitcoin-based exchange-traded product (ETP) in Europe. The iShares Bitcoin ETP will begin trading on Euronext Paris and Xetra under the ticker “IB1T,” while it will be listed as “BTCN” on Euronext Amsterdam.
This launch marks BlackRock's first crypto-backed ETP outside of North America. The company stated that the ETP is backed by Bitcoin held in cold wallets by Coinbase Custody International Ltd. BlackRock's spot Bitcoin ETF in the US has become the largest of its kind, with $39.8 billion in net inflows as of Monday.
Bitcoin ETFs in the US have been performing well recently, with positive net flows recorded for seven consecutive days. On Monday, these ETFs saw $84 million in net inflows, and their total trading volume reached $1.97 billion.
