BlackRock launches bitcoin ETP in Europe following US success
Quick Take BlackRock’s iShares Bitcoin ETP will be listed on Euronext Paris, Xetra and Euronext Amsterdam on Tuesday. This marks BlackRock’s first introduction of crypto-backed ETPs outside North America.
BlackRock is launching its bitcoin exchange-traded product in Europe on Tuesday, following the success of its U.S. spot bitcoin ETF, which was launched last year.
BlackRock's iShares Bitcoin ETP will be listed on Euronext Paris and Xetra under the "IB1T" ticker, as well as on Euronext Amsterdam under "BTCN" today.
According to iShares , the ETP is backed by bitcoin held by Coinbase Custody International Ltd. in cold storage.
The listing of the bitcoin ETPs in Europe marks BlackRock's first introduction of crypto-backed ETPs outside North America, according to Bloomberg. As of Monday, the iShares Bitcoin Trust, BlackRock's spot Bitcoin ETF in the U.S., has recorded a cumulative net inflow of $39.8 billion and holds $50.69 billion in net assets, making it the largest among U.S. spot bitcoin ETFs.
U.S. spot bitcoin ETFs have recently enjoyed a sustained period of success, recording positive flows for seven straight days . On Monday, these U.S. ETFs saw $84 million in net inflows, with a total trading volume of $1.97 billion, according to SoSoValue data .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
From "whoever pays gets it" to "only the right people get it": The next generation of Launchpads needs a reshuffle
The next-generation Launchpad may help address the issue of community activation in the cryptocurrency sector, a problem that airdrops have consistently failed to solve.
After bitcoin returns to $90,000, is Christmas or a Christmas crash coming next?
This Thanksgiving, we are grateful for bitcoin returning to $90,000.
Bitcoin security reaches a historic high, but miner revenue drops to a historic low. Where will mining companies find new sources of income?
The current paradox of the Bitcoin network is particularly striking: while the protocol layer has never been more secure due to high hash power, the underlying mining industry is facing pressure from capital liquidation and consolidation.
Trending news
MoreCrypto prices
More
