BlackRock Intends to Launch a Bitcoin ETP in Europe

BlackRock is planning to launch a new exchange-traded product (ETP) linked to Bitcoin in Europe. This will add to the $58 billion in assets amassed by the company through its US Bitcoin ETF.

Expected to be domiciled in Switzerland and marketed this month, the fund will further solidify Bitcoin’s appeal as an alternative store of value.

CEO Larry Fink has already highlighted Bitcoin’s potential as a hedge against currency debasement at the World Economic Forum in Davos.

While Europe has over 160 products tracking the price of cryptocurrencies like Bitcoin and Ethereum, their combined value of $17.3 billion is only a fraction of the US’ $116.4 billion Bitcoin ETF market.

This move follows BlackRock’s expansion of its products beyond the US, with the introduction of its iShares Bitcoin ETF to the Canadian market last month through listing on Cboe Canada.