BlackRock to Launch Bitcoin ETP in Europe
BlackRock is the world’s largest asset manager, all of which will launch Bitcoin ETP in Europe, related to its $58 billion US Bitcoin ETF. The fund is expected to be based in Switzerland and may start marketing as early as this month. It is worth noting that the US $58 billion tracking of BTC will be available overseas Bloomberg Report.
“The ability to obtain Bitcoin exposure through ETP wrappers has proven to be a compelling portfolio for investors,” said Samara Cohen, chief investment officers of BlackRock’s ETFS and Index Investments, and Jay Jacobs, respectively, in a subject and active ETF charge. The man wrote. Blog post last month.
BlackRock is the leader in ETFs with assets of more than $4.4 trillion. The new fund will be BlackRock’s first ETP with cryptocurrency outside North America. At the World Economic Forum in Davos, CEO Larry Fink emphasized the potential of Bitcoin in case of currency depreciation.
Last year, the launch of U.S. bitcoin ETFs caused a surge in demand, raising $116 billion in 12 funds. BlackRock’s iShares Bitcoin Trust (IBIT) is the largest, placing the record as the best performing ETF in history.
As Trump’s support and upcoming regulations provide clearer guidelines, more financial institutions may join the cryptocurrency market. The new encryption rules also aired in the EU in December.
The European crypto ETP market is competitive, with over 160 products tracking Bitcoin, Ether and other tokens. However, its $17.3 billion scale is much smaller than the U.S. market.
