In a significant development for the Bitcoin (BTC) market, BlackRock, the world’s largest asset manager, is preparing to introduce an exchange-traded Fund (ETF) directly tied to BTC in Europe. 

This move follows the success of its $58 billion US ETF that tracks the market’s leading cryptocurrency, underscoring BlackRock’s commitment to expanding its footprint in the digital asset space.

BlackRock CEO Advocates BTC’s Value 

According to Bloomberg, the new fund is expected to be domiciled in Switzerland. BlackRock could begin marketing the fund as soon as this month, marking a pivotal moment in the firm’s venture into European cryptocurrency products. 

While ETFs linked to cryptocurrencies have been available on European exchanges for several years, this will be BlackRock’s first crypto-linked ETF outside of North America. As a leader in the issuance of exchange-traded funds, BlackRock manages over $4.4 trillion in assets across various products. 

The firm has emerged as a prominent supporter of the digital asset class, with CEO Larry Fink recently highlighting Bitcoin’s potential as a hedge against currency debasement during the World Economic Forum (WEF) in Davos.

The launch of several US ETFs tied to Bitcoin last year ignited substantial demand for the asset class, leading to an influx of $116 billion across 12 funds to date, according to Bloomberg data. 

BlackRock’s iShares Bitcoin Trust (ticker IBIT) has notably set industry records, boasting the highest-performing debut of any Exchange-Traded Fund in history.

Growing Appeal Of Bitcoin ETFs

The cryptocurrency market has experienced a significant rally since the election of US President Donald

Go to Source to See Full Article
Author: Ronaldo Marquez

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details