BlackRock has launched a bitcoin exchange-traded product (ETP) in Europe. 

The iShares Bitcoin ETP is 100% physically backed by bitcoin, and its securities are held directly through Coinbase. It aims to give European investors exposure to bitcoin without the complexities of trading or holding it themselves.

The new ETP leverages the technology integration between Coinbase and BlackRock. At the end of each day, Coinbase transfers the bitcoin in the trading wallet into segregated, offline, cold storage wallets.