This marks BlackRock’s first crypto-backed ETP outside North America, signaling growing institutional interest in digital assets. To attract early investors, BlackRock is waiving fees, lowering the expense ratio to 0.15% until the year’s end. This makes it one of the most affordable Bitcoin ETPs in Europe.
Europe has been a pioneer in crypto ETPs, with over 160 digital asset-tracking products. However, the region’s market size remains small compared to the US. Bloomberg ETF analyst Eric Balchunas noted that US spot Bitcoin ETFs dominate, holding around 91% of total assets. He also pointed out that Europe struggles with liquidity and cost efficiency, but BlackRock’s entry could change that.
Despite the launch, Bitcoin’s price reaction has been minimal. The cryptocurrency fell 0.55% in the last 24 hours, selling at $86,601 at the time of writing. There are still some analysts who are skeptical, citing that the on-chain transaction value of Bitcoin has fallen significantly since 2017. It indicates that the majority of trading activities are driven by ETFs and futures rather than real demand.
Simultaneously, Europe’s Markets in Crypto Assets (MiCA) regime offers a unique regime for product release.
