BlackRock Plans Launch of Bitcoin ETP in Switzerland
BlackRock plans to launch a Bitcoin Exchange-Traded Product (ETP) in Europe, likely based in Switzerland. This marks its first product outside North America and follows the success of its IBIT ETF, which holds 2.7% of total BTC supply.
- BlackRock is the largest Bitcoin ETF issuer, expanding after its successful Canadian BTC ETF launch.
- Executives believe ETPs provide attractive exposure to Bitcoin for investors.
- Switzerland’s crypto-friendly regulations support this move, but compliance with EU’s MICA regulations is necessary.
- IBIT had higher assets under management than over 50 European ETFs as of December.
- BlackRock could promote the Bitcoin ETP within the next month.
This initiative reflects BlackRock's confidence in Bitcoin despite recent price fluctuations and could significantly impact European markets if successful.
Authors credited by the source: coinpaprika
Published by Holder based on an external source.
