3 hours ago
4
The expansion comes amid rising regulatory clarity and market growth.
Key Takeaways
- BlackRock plans to launch a Bitcoin exchange-traded product in Europe following its US Bitcoin ETF success.
- The company oversees $4.4 trillion in ETF assets globally and aims to expand its digital asset offerings in Europe.
BlackRock is poised to expand its crypto product line with the launch of a Bitcoin ETP in Europe, capitalizing on the runaway success of its US-listed spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), according to a Wednesday report from Bloomberg, citing sources with knowledge of the matter who requested anonymity due to the confidential nature of the plans.
Projected to be based in Switzerland, the planned fund would be BlackRock’s first crypto ETP in the European market. The world’s leading asset manager, which previously focused on North America, launched the IBIT fund and subsequently introduced its iShares Bitcoin ETF on Cboe Canada. The new ETP may debut as soon as this month, sources said.
US Bitcoin ETFs have seen substantial inflows since their debut last year, with 12 funds attracting over $116 billion in total, Bloomberg data shows. BlackRock’s iShares Bitcoin Trust (IBIT) has emerged as the most successful ETF launch in history.
The European crypto ETP market currently features more than 160 products tracking various digital assets, though its size remains smaller than the US market. The expansion comes as Bitcoin has reached new highs this year, amid increased regulatory clarity following the EU’s implementation of new crypto rules.
This is a developing story.
Disclaimer
English (US) ·