BlackRock is preparing to launch a Bitcoin exchange-traded product (ETP) in Europe, Bloomberg reported on February 5.
The move comes after its US spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), garnered $57 billion in net assets following its January 2024 launch, making it the most popular spot Bitcoin ETF in the US.
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The European Bitcoin ETP will be based in Switzerland and BlackRock plans to start marketing it this month, according to sources familiar with the matter.
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BlackRock is one of the largest issuers of ETFs, with $4.4 trillion in assets under management through its ETPs. This would be its first Bitcoin ETP outside North America.