BlackRock is preparing to launch a bitcoin exchange-traded product (ETP) in Europe within the coming weeks.
According to a source familiar with the plans, the move is intended to respond to increased demand from money managers and consumers for cryptocurrency exposure. The upcoming product is expected to be based in Switzerland, as indicated by the recent establishment of iShares Digital Assets AG in Zurich, a move detailed in a recent regulatory filing.
Despite inquiries, BlackRock has not commented on these developments.
This initiative follows BlackRock’s early move into cryptocurrency-backed exchange-traded products in the United States. Following the US Securities and Exchange Commission’s approval in January 2024, BlackRock launched products tracking the spot price of Bitcoin, marking a significant step in integrating cryptocurrencies into mainstream finance.
The company’s leading bitcoin-linked product, IBIT, has seen rapid growth, accumulating net assets of $57.5 billion (approximately Rs. 5,03,523 crore) as of February 4, per data from BlackRock’s website. However, these US-domiciled products are not accessible to all global investors.
JUST IN: 🇪🇺 BlackRock to launch Bitcoin ETP in Europe, Bloomberg reports.
— Watcher.Guru (@WatcherGuru) February 5, 2025Bloomberg initially reported on BlackRock’s European plans, highlighting the firm’s strategic expansion in response to regulatory developments and market opportunities.
Meanwhile, the cryptocurrency industry in the US has received a boost from President Trump’s supportive stance. At the same time, Europe’s sector faces stringent new regulations under the European Union’s Markets in Crypto-Assets Regulation (MiCA), introduced in early 2023 and currently being implemented.
