BlackRock Targets European Institutional Investors with Bitcoin ETP Launch in Europe

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Summary

BlackRock announced that it is targeting European institutional investors by launching a Bitcoin ETP in Europe.
It was reported that the fee will be temporarily reduced to 0.15% to increase investment incentives.
The media evaluated that BlackRock's launch will be a turning point for the industry in the European market.

BlackRock is launching a Bitcoin Exchange Traded Product (ETP) in Europe.

On the 25th (local time), Bloomberg reported that BlackRock announced the launch of the iShares Bitcoin ETP in Europe. The listing is scheduled to take place on the 25th (local time). It will be traded under the ticker IB1T on Germany's Xetra and France's Euronext Paris, and under the ticker BTCN on the Netherlands' Euronext Amsterdam.

A fee reduction benefit was also announced. BlackRock stated, "A temporary fee reduction of 10bp will be applied until the end of the year, resulting in a fee of 0.15%."

Manuela Sperandeo, BlackRock's Head of Product for Europe, Middle East, said, "The launch of the ETP in the European market is a turning point for the industry," adding, "Now, many more institutional investors will be drawn in."

The media evaluated it as "the first virtual asset (cryptocurrency) related ETP launched by BlackRock outside North America," noting the influence of the successful U.S. Bitcoin spot ETF.

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