China News Today TheBitTimes.com

Asset management titan BlackRock is set to launch a Bitcoin ETP (exchange-traded product) in Europe today as US spot Bitcoin ETFs (exchange-traded funds) push their net daily inflow streak to 7 days. BlackRock’s iShares Bitcoin ETP follows the success of the asset manager’s spot Bitcoin ETF, which launched in the US in January last year.  BlackRock’s Bitcoin ETP To List On Multiple Platforms Today BlackRock’s Bitcoin ETP will be listed on Euronext Paris and Xetra under the ticker “IB1T.” It will also list on Euronext Amsterdam as “BTCN.” The ETP is backed by Bitcoin that is held by Coinbase Custody International Ltd. in cold storage, according to iShares .  BlackRock’s Bitcoin ETP listings in Europe also marks the first time the asset manager has introduced a crypto ETP outside of North America. US Spot Bitcoin ETFs Extend Inflow Streak BlackRock’s ETP launches in Europe come as US spot Bitcoin ETFs continue...

Spot Bitcoin ETFs in the U.S. could eclipse the entire crypto currency exchange-traded product (ETP) market. As BitMEX analysts note, the crypto currency ETP market has 150 products and has a valuation of $50.3 billion as of Dec. 22, 2023. The list includes spot and futures funds that typically track the performance of Bitcoin (BTC) and Ethereum (ETH). The largest ETP on the list is Grayscale’s Bitcoin Trust, which is currently attempting to convert into a spot ETF product. Of the 150 crypto funds, the 20 largest ETFs attracted the most investment, totaling $1.3 billion inflows during 2023. “With the supposedly imminent approval of the Bitcoin spot ETFs by the SEC in the United States, this dataset and Analysis derived from it may be interesting. For example, it could be useful in determining the extent to which the spot Bitcoin ETF cannibalizes existing exchange-traded products or attracts new capital into the crypto currency space.” BitMEX Research The rac...