BlackRock has launched a new Bitcoin exchange-traded product in Europe through its iShares fund service as issuers push forward on efforts to create crypto-focused products following the success of U.S.-based Bitcoin funds.
The iShares Bitcoin ETP (IB1T) is listed on German, French, and Dutch stock exchanges, according to a prospectus on the iShares website.
“Each ETP security corresponds to a specific amount of Bitcoin,” the prospectus reads.
Decrypt has reached out to BlackRock to learn more.
Coinbase, the U.S.’s largest crypto exchange, would custody the digital assets for the investment vehicle, according to the prospectus.
BlackRock Adds Its Record-Breaking Bitcoin Fund to Model Portfolios
BlackRock is including iShares Bitcoin Trust (IBIT) in its model portfolio offerings, the asset management giant confirmed to Decrypt on Friday. The world's largest asset manager is adding a 1% to 2% IBIT share to its target allotment for Target Allocation with Alternatives and the Target Allocation with Alternatives Tax-Aware portfolios, which are aimed at investors with higher risk tolerance. "Target Allocation with Alternatives models invest across a full risk spectrum, and allocate to a core...
BlackRock’s application for a spot Bitcoin ETF in mid-2023 was considered a pivotal moment in their eventual approval in January 2024, given its status as the world’s largest asset manager, with over $11 trillion in assets under management.
It's iShares Bitcoin Trust has generated nearly $40 billion in net inflows, the most among the 11 bitcoin funds currently trading, according to U.K. asset manager Farside Investors. Spot Bitcoin funds now control nearly $100 billion in assets.
BlackRock’s spot Ethereum fund has received more than $4 billion in assets since it debuted in July 2024. Crypto ETFs have given investors exposure to the asset in a more familiar financial product.
Separately, in an announcement Tuesday, tokenization platform Securitize said that it had launched BlackRock’s $1.7 billion tokenized treasury fund BUIDL on the Solana blockchain.
BlackRock Digital Assets Head Criticizes Narrative of Bitcoin as a Risk-On Asset
The leader of BlackRock's digital asset unit aimed Wednesday to dispel perceptions of Bitcoin as a risky investment as the cryptocurrency market swoons. In an interview with CNBC's Squawk Box, BlackRock Digital Asset Head Robert Mitchnick said the cryptocurrency industry has promoted the idea that Bitcoin is a risk-on asset, despite the fact the token is “global, scarce, non- sovereign, decentralized.” A risk-on asset is an investment such as a stock that poses at least some possibility of fi...
“Following the one-year anniversary of BUIDL’s launch, BlackRock and Securitize are expanding access with a new share class on the Solana network,” Securitize said in a post on X.
“This milestone marks an important step in the continued institutional adoption of tokenized real-world assets,” it added.
Edited by James Rubin and Sebastian Sinclair
