BlackRock to Launch Bitcoin ETP in Europe After US Success
BlackRock plans to launch a Bitcoin exchange-traded product (ETP) in Europe, expanding from its successful US-based Bitcoin ETF, the iShares Bitcoin Trust (IBIT), which has $58 billion in assets. This will be BlackRock's first ETP offering outside North America.
Key details include:
- The new fund is likely based in Switzerland and may begin marketing this month.
- BlackRock has over $4.4 trillion in ETF assets and aims to increase its presence in the crypto market.
- Bitcoin ETFs globally have attracted $116 billion since their introduction in the US, with IBIT being the highest-performing ETF launch.
- In 2024, US Bitcoin ETFs saw net inflows exceeding $35 billion, averaging $144 million per trading day.
- Analysts project an additional $48 billion in inflows for Bitcoin ETFs in 2025.
Despite Europe's cryptocurrency ETP market comprising over 160 products, it holds only $17.3 billion, significantly less than the US market. BlackRock executives noted strong investor interest in Bitcoin exposure via ETPs.
BlackRock's CEO, Larry Fink, advocates Bitcoin as a hedge against currency debasement. Recent regulatory clarity in the EU may facilitate the adoption of the new ETP.
Bitcoin's price reached an all-time high of $109,114 following Donald Trump's re-election, fueled by his pro-crypto stance and regulatory optimism.