Blackrock is seeking to launch a bitcoin ETP in Europe, capitalizing on institutional demand after its U.S. bitcoin ETF amassed nearly $60 billion in assets.
Blackrock, the world’s largest asset management firm, is reportedly preparing to introduce a spot bitcoin exchange-traded product (ETP) in Europe, expanding its digital asset offerings beyond North America. Bloomberg reported this week, citing individuals familiar with the matter, that the fund is likely to be headquartered in Switzerland. One source suggested that Blackrock may begin promoting the investment vehicle as early as this month. This development follows the significant success of its U.S.-listed bitcoin ETF, which has accumulated nearly $60 billion in assets.
Larry Fink, Blackrock’s CEO, has emphasized the asset manager’s growing focus on digital assets, recently advocating for bitcoin’s role as a hedge against currency devaluation during the World Economic Forum in Davos. Speaking on a panel at the event, he projected that broader institutional adoption could push bitcoin’s price as high as $700,000. He recalled a discussion with a sovereign wealth fund considering an allocation of 2% to 5% in bitcoin. “There was a conversation, should we have a 2% allocation? Should we have a 5% allocation? If everybody adopted that conversation, it would be $500,000, $600,000, $700,000 for bitcoin,” he stated.
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