Asset management titan BlackRock is reportedly going to list a new spot market Bitcoin (BTC) exchange-traded product (ETP) in Europe, its first digital asset-related venture into the continent.

According to a new report from Bloomberg, BlackRock – which has over $10 trillion in assets under management – is getting ready to launch a BTC ETP in Europe after its US iShares Bitcoin Trust ETF (IBIT) was a massive success.

Anonymous people familiar with the matter say that the ETP will be based out of Switzerland and that BlackRock could start advertising the fund as soon as sometime this month.

Exchange-traded funds (ETFs) and ETPs allow traders to expose themselves to assets – such as precious metals and crypto – without having to actually physically purchase them.

BlackRock first launched IBIT in January 2024 after years of having its bid delayed by the U.S. Securities and Exchange Commission.

Previously, Bloomberg found that IBIT had the best debut out of all other US BTC ETFs. At the time, it was found that IBIT held more assets than BlackRock’s Gold ETF despite it being launched nearly two decades earlier in 2005.

According to BlackRock’s official website, the net assets of IBIT are $57.4 billion while Bloomberg reports that Europe’s total crypto ETP market is sized at around $17.3 billion.

IBIT is trading for $56.09 at time of writing, a marginal decrease on the day while the top crypto asset by market cap is valued at $98,146.

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Author: Mehron Rokhy

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