BlackRock Bitcoin ETP ‘key’ for EU adoption despite low inflow expectations
BlackRock’s foray into the European markets is a “key” moment for Bitcoin’s growing global adoption, according to Bitfinex analysts.
BlackRock’s new European Bitcoin exchange-traded product (ETP) is a major step for Bitcoin’s institutional adoption in Europe, though analysts expect lower inflows than its US counterpart.
The iShares Bitcoin ETP, managed by the world’s largest asset manager, began trading on March 25 on Xetra, Euronext Amsterdam and Euronext Paris.
While the launch marks a significant step in bringing Bitcoin (BTC) exposure to European investors, analysts at Bitfinex said the product is unlikely to match the success of the US-based iShares Bitcoin Trust exchange-traded fund (ETF), which has seen strong demand from institutional and retail investors.
