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Blackrock's European ETF Quietly Tops $1 Billion - U.Today
BlackRock’s European investment product has quietly achieved a massive milestone
The asset manager’s European Bitcoin exchange-traded product (ETP) has accumulated approximately 14,200 Bitcoin. This has pushed its total valuation comfortably past the $1 billion mark.
The iShares Bitcoin ETP is capturing significant institutional interest across the European market
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Blackrock’s European ETF Quietly Tops $1 Billion
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As of early May, the ETP boasts a Series Value of exactly $1.1 billion. To reach this billion-dollar valuation, the fund has stacked a massive reserve of Bitcoin, reflected in its 142,241,128 securities outstanding
The iShares Bitcoin ETP, which is domiciled in Switzerland, is designed to closely mirror the spot price of the digital asset, specifically tracking the CME CF Bitcoin Reference Rate as its primary index.
Because a single-asset Bitcoin fund cannot qualify as a UCITS ETF, European asset managers use the broader Exchange-Traded Product (ETP) or Exchange-Traded Note (ETN) structure. In contrast, the U.S.-based IBIT is not a debt security. It is structured as a traditional Delaware statutory trust.
More milestones
As of the latest update on May 2, the total historical net inflow for Bitcoin spot ETFs has reached an impressive $59.14 billion, which translates to a cumulative accumulation of 747.52K BTC. The total net assets managed across these funds currently stand at $102.71 billion, with a combined market capitalization of $106.07 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) maintains a commanding lead over the sector. IBIT currently holds approximately 810.33K BTC, representing $61.96 billion in assets under management. Fidelity’s Wise Origin Bitcoin Fund (FBTC) occupies the second position with 188.00K BTC and $14.16 billion in AUM, followed by the Grayscale Bitcoin Trust (GBTC), which holds 150.74K BTC and $11.81 billion in AUM.