BlackRock Launches Bitcoin Fund in Europe Following Major Success in the U.S.

BlackRock has launched a new bitcoin investment product in Europe through its iShares fund service as fund issuers in the U.S. are making efforts to launch new crypto-focused products following the success of bitcoin ETFs. iShares Bitcoin ETP (IB1T) is listed on German, French, and Dutch exchanges, according to the prospectus on the iShares website.

– Each ETP security corresponds to a specific amount of bitcoin – states the prospectus.

Coinbase, the largest U.S. crypto exchange, holds digital assets for the investment vehicle, according to the prospectus. 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.

The iShares Bitcoin Trust has generated nearly $40 billion in net inflows, the highest among the 11 bitcoin funds currently traded, according to British asset manager Farside Investors. Spot bitcoin ETFs now control nearly $100 billion in assets.

BlackRock’s spot ethereum ETF has raised over $4 billion in assets since its debut in July 2024. Crypto ETFs have allowed investors exposure to assets in a more familiar financial product. Separately, in a Tuesday announcement, the tokenization platform Securitize stated that it has launched BlackRock’s tokenized treasury fund BUIDL, amounting to $1.7 billion on the Solana blockchain.

– Following the one-year anniversary of the launch of BUIDL, BlackRock and Securitize are expanding access to a new class of shares on the Solana network – Securitize said in a post on X.

– This milestone marks an important step in the ongoing institutional adoption of tokenized assets in the real world – it adds.