BlackRock, the world’s largest asset manager, is preparing to launch a Bitcoin exchange-traded product (ETP) in Europe, following the success of its $58 billion US Bitcoin ETF. Sources indicate the fund will likely be domiciled in Switzerland and could begin marketing as early as this month.
A major step for Bitcoin in Europe
While cryptocurrency-linked ETPs have been available in Europe for years, this will be BlackRock’s first in the region. With over $4.4 trillion in ETF assets, BlackRock’s entry is expected to reshape the European market, where crypto ETPs currently total $17.3 billion, significantly smaller than the US market.
Timing and market conditions
Bitcoin’s record-breaking rally, supported by Trump’s re-election and increasing institutional interest, has encouraged more financial firms to enter the crypto space. Additionally, new EU regulations on digital assets provide a clearer framework for institutional participation, making this an opportune moment for BlackRock’s expansion.
Looking ahead
BlackRock’s iShares Bitcoin Trust (IBIT) has already set records in the US, and its European Bitcoin ETP could further solidify the firm’s influence in the cryptocurrency market. If demand follows a similar trajectory, this move could attract even more institutional capital into digital assets.