iShares to Issue 350,000 Bitcoin ETPs as Crypto Adoption Accelerates - Coinedict

London, December 23, 2025 — iShares Digital Assets AG has announced plans to issue 350,000 securities of its iShares Bitcoin ETP (IB1T), marking another step forward in the growing integration of digital assets into traditional financial markets.

According to a final terms document released on Tuesday, the issuance will take place under the firm’s Secured Cryptoasset Linked Securities Programme, reflecting rising institutional and retail demand for regulated Bitcoin exposure.

Key Details of the Bitcoin ETP Issuance

Each security will be issued at a price of $8.95, with an initial cryptoasset entitlement of 0.0001 Bitcoin per ETP as of the series issue date. The product is designed to closely track the price performance of Bitcoin, offering investors a straightforward, exchange-traded route to gain exposure without directly holding the underlying asset.

The total expense ratio (TER) has been set at 0.25% per annum, although investors will benefit from a temporary fee reduction. From the issue date through December 31, 2026, the TER will be lowered to 0.15%, a move likely aimed at boosting early adoption and improving competitiveness within the expanding crypto ETP market.

Listing on the London Stock Exchange

The Bitcoin ETPs are scheduled to be admitted to trading on the London Stock Exchange Main Market, with trading expected to commence on December 24, 2025.

The listing reflects London’s increasing role as a hub for regulated digital asset products, following recent changes to the UK’s crypto regulatory framework that allow wider access to crypto-linked securities.

Regulatory Backdrop Enables Retail Access

The issuance follows the implementation of the Financial Conduct Authority’s Conduct of Business (Cryptoasset Products) Instrument 2025, which came into force on October 8, 2025.

These regulatory changes allow certain cryptoasset-linked products to be marketed to retail investors in the United Kingdom, provided they meet strict transparency, custody, and risk disclosure requirements. Market participants see this shift as a major milestone for crypto adoption, bringing Bitcoin exposure further into the mainstream investment landscape.

Market Makers and Custody Arrangements

Several major liquidity providers will support the ETP:

Flow Traders B.V.

Jane Street Financial Limited

Virtu Financial Ireland Limited

These firms will act as authorized participants, helping ensure tight spreads and sufficient liquidity once the product begins trading.

Custody of the underlying Bitcoin will be handled by Coinbase Luxembourg S.A., a regulated entity within the Coinbase group, reinforcing institutional-grade custody standards for the product.

Structure and Risk Profile

The securities are structured as secured, limited-recourse debt obligations of iShares Digital Assets AG and are governed by English law. They will be represented by a registered global certificate deposited with a common depository for the relevant clearing system.

As with all crypto-linked products, the issuer emphasized that the ETP’s value will remain directly tied to Bitcoin price movements, exposing investors to both upside potential and downside volatility.

Broader Market Implications

The launch comes amid rising crypto adoption across Europe, driven by improving regulatory clarity, institutional participation, and increasing demand for exchange-traded crypto products.

Market analysts view the issuance as further evidence that Bitcoin ETPs are becoming a standard portfolio allocation tool, particularly for investors seeking regulated exposure without the complexities of private key management or self-custody.

As competition intensifies among issuers, lower fees, strong liquidity support, and trusted custodianship are expected to remain key differentiators.