LONDON (Reuters) – BlackRock (BLK) has launched its first bitcoin (BTC-USD) exchange-traded product in Europe, in a bid to tap growing demand for cryptocurrency exposure in new markets after attracting more than $50 billion into similar products in the United States.

The world’s largest asset manager has launched its ‘iShares Bitcoin ETP’, according to a BlackRock product page online, which is domiciled in Switzerland and listed in Paris, Amsterdam and Frankfurt.

Reuters previously reported on the planned launch last month. BlackRock declined to comment.

BlackRock was one of the first institutional investors to offer exchange-traded products in the U.S. to track the spot price of bitcoin after the Securities and Exchange Commission first approved them in January 2024.

It has partnered with Coinbase as custodian and Bank of New York Mellon as administrator on the latest product, the page said.

(Reporting by Iain Withers; Editing by Kirsten Donovan)