BlackRock, the world’s largest asset manager, launched a Bitcoin exchange-traded product (ETP) on multiple European stock exchanges.
The iShares Bitcoin ETP began trading on March 25 on Xetra, Euronext Amsterdam and Euronext Paris, according to BlackRock’s product page. The launch follows the success of its iShares Bitcoin Trust exchange-traded fund (ETF), which dominates the US market with $50.7 billion of assets under management, accounting for about 2.73% of the total Bitcoin (BTC) supply.
Stephen Wundke, director of strategy and revenue at crypto investment firm Algoz, told Cointelegraph that “the availability of the iShares Bitcoin ETP may not have the same reaction across Europe” as it saw in the US:
“Quality investment products through regulated asset managers have been more available throughout Europe than in the US, and secondly, Bitcoin is also more easily purchased. […] However, the ability for traditional family offices