In a bold move signaling their deepening commitment to the digital asset space, BlackRock, the world’s leading investment powerhouse managing over $11 trillion, made waves on March 25 with two key initiatives aimed at expanding their crypto footprint.

Specifically, the financial giant has broadened the reach of its tokenized money market fund, bringing it to the Solana blockchain, and simultaneously launched its inaugural Bitcoin exchange-traded product (ETP) for the European market.

Bitcoin ETP

BlackRock is now offering European investors direct exposure to Bitcoin with the launch of its iShares Bitcoin ETP across key European exchanges.

As detailed on the product’s website, the iShares Bitcoin ETP began trading on March 25th on Germany’s Xetra, Euronext Paris, and Euronext Amsterdam exchanges. Investors can find the ETP listed under the ticker IB1T on both Xetra and Paris, and as BTCN on the Amsterdam exchange.

To encourage early adoption, BlackRock is rolling out the ETP with a compellingly low introductory fee of just 0.15%. This reduced fee will remain in place until 2026, after which it will adjust to 0.25%, bringing it in line with comparable offerings in the region.

This European launch builds upon the remarkable success of BlackRock’s iShares Bitcoin Trust (IBIT) in the US, which has rapidly grown to manage over $50 billion in assets.

Data from SoSoValue reveals the substantial impact of the US-based IBIT fund, noting that it currently holds approximately 2.9% of the total circulating supply of Bitcoin.

BUIDL’s Solana expansion

In another significant stride into the crypto realm, BlackRock’s USD Institutional Digital Liquidity Fund, known as BUIDL, is now operational on the Solana network.

This integration marks Solana as the seventh blockchain to host BUIDL, adding to its existing presence on Ethereum, Avalanche, Arbitrum, Aptos, Polygon, and Optimism.

Securitize, BlackRock’s partner in bringing BUIDL to life, highlighted Solana’s appeal, explaining that the expansion is driven by the blockchain’s impressive transaction speeds and cost-effective network fees.

Carlos Domingo, Co-founder and CEO of Securitize, elaborated on this strategic move:

“As the momentum behind Real World Assets (RWAs) and tokenized treasuries builds, extending BUIDL to Solana—a blockchain celebrated for its speed, scalability, and affordability—naturally makes sense as the next step.”

The innovative BUIDL fund tokenizes traditional money market investments, unlocking the advantages of blockchain technology such as rapid settlement and round-the-clock trading—a stark contrast to traditional funds bound by conventional market hours.

Currently, BUIDL oversees a substantial $1.7 billion in assets, primarily held in cash and short-term US Treasury bills. Ethereum remains the primary home for the majority of these assets, holding over $1.5 billion, with the remainder distributed across the other supported blockchains.

Aptos and Avalanche each hold approximately $53 million, followed closely by Polygon, Arbitrum, and Optimism with holdings of $33 million, $32 million, and $27 million, respectively.

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