Stephen Wundke, director of strategy and revenue at crypto investment firm Algoz, told Cointelegraph that “the availability of the iShares Bitcoin ETP may not have the same reaction across Europe” as it saw in the US:“Quality investment products through regulated asset managers have been more available throughout Europe than in the US, and secondly, Bitcoin is also more easily purchased.[…] However, the ability for traditional family offices across Europe to hold a small percentage of their asset base in ‘digital gold’ is no doubt a good thing.[…] Just don’t expect $60 billion of purchases in the first quarter.”Product details and fee structureThe new ETP trades under the IB1T ticker on Xetra and Euronext Paris, while on Euronext Amsterdam it uses BTCN.
Manuela Sperandeo, BlackRock’s head of Europe and Middle East iShares Product, told Bloomberg:“[This launch] reflects what really could be seen as a tipping point in the industry — the combination of established demand from retail investors with more professionals now really getting into the fold.”Related: Bitcoin ETFs log first net inflows in weeks, while Ether outflows continueAjay Dhingra, head of research at decentralized exchange aggregator Unizen, told Cointelegraph that the move reflects BlackRock’s confidence in the European Union’s Markets in Crypto-Assets Regulation framework:“From Trump to Biden and now Trump again, US digital asset policy has been largely inconsistent.
Europe’s top crypto ETP is the CoinShares Physical Bitcoin ETP, which currently charges 0.25%, making BlackRock’s offering considerably cheaper while the waiver is in place.“There is no doubt BlackRock’s aggressive fee structure was designed to keep competitors out of the market and question the commitment of any new entrants,” Wundke said.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Adrian Zmudzinski
The story "BlackRock launches Bitcoin ETP in Europe" has 471 words across 15 sentences, which will take approximately 2 - 4 minutes for the average person to read.
Which news outlet covered this story?
The story "BlackRock launches Bitcoin ETP in Europe" was covered 17 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 38 news stories per day.
It's most recent story was published 8 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
