Blackrock’s Bold Move: Bitcoin ETP in Europe? You Won’t Believe This!

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So, Blackrock, the big cheese of asset management, has decided to dip its toes into the European bitcoin pool. I mean, why not? They’ve already made a splash in the U.S. with their $48 billion bitcoin fund. Now they’re rolling out the iShares Bitcoin ETP over in Europe. It’s like they’re saying, “Hey, Europe, we’re here to make your crypto dreams come true!”

Blackrock’s Bitcoin ETP: Because Who Doesn’t Love a Good Fee Waiver?

Blackrock is bringing its bitcoin exchange-traded product (ETP) to Europe, and they’re not just throwing it out there without a plan. They’re listing it on Xetra and Euronext Paris, and they’ve got a separate listing (BTCN) on Euronext Amsterdam. It’s like a European tour, but for financial products. 🎉

And get this: to lure in those early investors, they’re waiving fees temporarily. Just 0.15% until the end of 2025! That’s practically a steal! I mean, who doesn’t love a good deal? It’s like finding a coupon for your favorite restaurant, except this time it’s for bitcoin. Take that, CoinShares! They’re charging 0.25%. What are they thinking? 😏

Manuela Sperandeo, Blackrock’s head honcho for Europe & Middle East iShares Product, says this is a “tipping point” for the industry. Really? A tipping point? Sounds dramatic. But hey, if it gets more professionals into the crypto game, I’m all for it. Just don’t ask me to explain how it works. I’m still trying to figure out my own bank account! 🤷‍♂️

Now, unlike the U.S., where Blackrock’s iShares Bitcoin Trust is practically a rock star, the European crypto ETP market is still a bit of a wallflower at $13.6 billion. But with Blackrock stepping in, who knows? Maybe it’ll finally get the attention it deserves. It’s like the underdog story of the century! 🐶

And let’s not forget, Coinbase Global is the custodian for the physical bitcoin backing IB1T. So, at least we know they’re keeping it safe and sound. It’s available for both institutional and informed retail investors. Blackrock’s really putting their money where their mouth is, huh? They must really believe in bitcoin’s future. Or maybe they just really like the color orange. 🍊

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2025-03-25 15:57