Blackrock giant of asset management has launched its first producer in Bitcoin in Europe: a producer in physically supported bitcoin (ETP).
Ishares bitcoin etp I started trading Tuesday in Germany xetra Exchange and Euronext exchanges in Paris and Amsterdam. ETP will be traded under the IB1T index on XTra, Euronext Paris and BTCN on Euronext Amsterdam.
The new product comes after Blackrock appeared for the first time in Bitcoin ETF in the United States last year. ETF in the United States, ISHARES Bitcoin Trust (IBIT) attracted more than $ 50 billion in assets and has become the largest Bitcoin Points ETF in the world. Larry Fink, CEO of Blackrock, has expressed doubts about Bitcoin, but it seems that he prepared for Bitcoin amid the customer's request.
By launching European Bitcoin ETP, Blackrock offers institutional investors in the region to perform Bitcoin prices in a familiar and organized cover. ETPS Crypto has been present in Europe for years, but we were late in Bitcoin Etf in the origins.
BITCOIN ETP of Blackrock holds 0.25 % administrative fees, which has been reduced to 0.15 % through the temporary assignment of fees until the end of the year 2025. ETP Coinbase is used for custody.
As the largest asset manager in the world with more than $ 10 trillion under management, Blackrock brings wide energy and distribution. This step indicates the increasing embrace of Bitcoin as a class of emerging institutional assets.
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