In a significant move for cryptocurrency investments in Europe, BlackRock, the world's largest asset manager, launched its first Bitcoin-backed exchange-traded product (ETP) on March 25, 2025. This initiative comes as the demand for cryptocurrency exposure continues to grow, with the firm hoping to capitalize on new market opportunities.
The newly introduced iShares Bitcoin ETP is domiciled in Switzerland and is listed in major European financial hubs including Paris, Amsterdam, and Frankfurt. BlackRock's entry into the European market follows its success in the United States, where it has attracted over $50 billion in similar products since they gained regulatory approval from the Securities and Exchange Commission (SEC) in January 2024.
In conjunction with this launch, BoursoBank, a subsidiary of Société Générale, also made headlines on the same day by enabling its 7.2 million clients to invest in six ETPs with crypto-asset underlyings. This move is considered a pivotal development in how traditional banking institutions are incorporating digital assets into their offerings.
BoursoBank announced it would offer five ETPs from the asset manager CoinShares and, notably, one product from BlackRock—the iShares Bitcoin ETP. Customers will have the chance to invest in popular cryptocurrencies such as Bitcoin, Ether, Solana, Ripple, and Cardano, expanding their investment portfolios without the need to open accounts on cryptocurrency exchanges.
According to Jean-Marie Mognetti, the head of CoinShares, "The arrival of BoursoBank onto this market marks a turning point for the adoption of digital assets in France." This sentiment reflects the broader trend of financial institutions embracing cryptocurrency, which previously faced skepticism and regulatory hurdles.
Statistically, the shift towards digital currencies appears to be promising; a recent study by Adan and KPMG indicates that 12% of French people currently hold cryptocurrencies. This growing acceptance of digital assets may be contributing to BoursoBank’s and BlackRock’s strategies in widening their service offerings.
As BlackRock continues to navigate the evolving landscape of cryptocurrency investments, it has partnered with Coinbase as the custodian for its ETP and Bank of New York Mellon as the administrator. These partnerships are integral to managing the complexities of compliance and security associated with trading cryptocurrencies.
Interestingly, BlackRock was among the first institutional investors to delve into Bitcoin products, showing foresight in a market that is gaining traction. The firm’s expertise in ETFs adds an additional layer of credibility and reliability, which may encourage more traditional investors to explore this asset class.
BoursoBank’s clients will benefit from a seamless investment experience, as they can trade these ETPs through their regular brokerage accounts. This simplifies the process of gaining exposure to digital currencies while allowing investors to avoid the technical challenges of managing cryptocurrencies directly.
The cryptocurrency market is continuing to evolve, and the growing interconnection between traditional finance and digital currencies signals a significant shift. With the global ETF and ETN market reaching $92 billion in assets under management by July 2024, as noted by a report from ETFGI, it’s clear that interest in these investment vehicles is surging.
Both BlackRock and BoursoBank’s advancements could pave the way for further innovations in how investors engage with digital assets. As institutions like these embrace cryptocurrency, it not only legitimizes the asset class but may also alter perceptions among individual investors and the broader public.
These developments mark a notable point in the cryptocurrency landscape in Europe as traditional finance integrates with emerging digital assets. As seen with the growth of ownership among the French populace and institutional engagement, the future of cryptocurrency investment seems to be on a promising trajectory.
