BlackRock has launched its inaugural physically backed bitcoin exchange-traded product (ETP) in Europe, the iShares Bitcoin ETP, which trades on major exchanges like Germany's Xetra and Euronext. Following the success of its U.S. bitcoin ETF, which amassed over $50 billion in assets, BlackRock's European product caters to institutional investors, offering a regulated avenue for bitcoin exposure. The ETP is competitively priced at a management fee of 0.25%, reduced temporarily to 0.15%. This strategic move signifies a significant shift towards mainstream acceptance of bitcoin as a viable institutional asset class.
BlackRock launches its first bitcoin ETP in Europe, reflecting growing institutional interest and confidence in bitcoin as a legitimate asset class.
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