A bitcoin exchange-traded product issued by BlackRock has commenced trading on European stock exchanges.
The iShares Bitcoin ETP listed on the Euronext Amsterdam (Holland) stock exchange under the ticker symbol BTCN and on the Euronext Paris (France) and Xetra (Germany) stock exchanges under the ticker symbol IBIT on March 25, according to product information provided on BlackRock’s website.
Bloomberg reported that this marks BlackRock's first entry into crypto-linked ETPs outside of North America.
Through Dec. 31, the ETP will carry an expense ratio of 0.15%, however on Jan. 1, 2026, the fee will increase to 0.25%, matching the figure for its U.S.-listed counterpart.
Domiciled in Switzerland, the new ETP is physically backed by bitcoin held by custodian Coinbase Custody International Ltd.
The U.S. version of this product, the iShares Bitcoin Trust, which trades on Nasdaq under the ticker IBIT, was introduced on Jan. 5, 2024, and has since amassed almost $50.7 billion in assets.
