BlackRock to Launch Bitcoin ETP in Switzerland for Europe after US ETF Success
Key Takeaways:
- BlackRock’s Bitcoin ETP success in the U.S. leads the company to expand into the European market.
- Crypto-friendly regulations will be an ideal location for the Swiss domiciled product.
- This move will accelerate Bitcoin adoption while also benefiting existing ETPs.
BlackRock, the global asset management giant, is making a strategic entry into the cryptocurrency market. The strong performance of the iShares Bitcoin Trust (IBIT) by BlackRock in the U.S. market considerably enables the successful expansion to a similar product in Europe. BlackRock is set to launch a Bitcoin Exchange-Traded Product (ETP) in Europe. This marks a major milestone for digital assets, as both crypto exchanges and mainstream financial institutions increasingly embrace the sector.
Europe in BlackRock’s Strategy Post-IBIT: Documenting a Meticulous Move
According to Bloomberg, BlackRock’s plans for a Bitcoin ETP in Europe remain unclear. Marketing efforts could begin as early as this month, with Switzerland expected to be the launch hub. While speculation is growing, BlackRock has yet to provide an official statement. However, the general understanding of industry insiders is that to fulfill their objective of providing reliable services, the firm has no other way but to embrace digital assets, particularly cryptocurrencies, for the European market.
BlackRock’s IBIT quickly became one of the best-performing Bitcoin ETFs in the U.S., further solidifying the company’s dominance in the crypto space.
