off-the-wire

BlackRock launches first bitcoin product in Europe

Kitco Media
By Reuters
Published:
Updated:
Reuters
BlackRock launches first bitcoin product in Europe teaser image

LONDON, March 25 (Reuters) - BlackRock (BLK.N), opens new tab has launched its first bitcoin exchange-traded product in Europe, in a bid to tap growing demand for cryptocurrency exposure in new markets after attracting more than $50 billion into similar products in the United States.

The world's largest asset manager has launched its 'iShares Bitcoin ETP', according to a BlackRock product page online, which is domiciled in Switzerland and listed in Paris, Amsterdam and Frankfurt.

Reuters previously reported on the planned launch last month. BlackRock declined to comment.

BlackRock was one of the first institutional investors to offer exchange-traded products in the U.S. to track the spot price of bitcoin after the Securities and Exchange Commission first approved them in January 2024.

It has partnered with Coinbase as custodian and Bank of New York Mellon as administrator on the latest product, the page said.
Reporting by Iain Withers; Editing by Kirsten Donovan

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.