BlackRock plans bitcoin exchange-traded product for European market: report
Asset management giant BlackRock is preparing a bitcoin-based ETP product to be listed in Europe, according to Bloomberg.The financial instrument will likely be based out of Switzerland.
![BlackRock plans bitcoin exchange-traded product for European market: report image 0](https://img.bgstatic.com/multiLang/image/social/dfdb6465d7f4560a4024fa40923c6b4d1738796419533.jpg)
Following the runaway success of its U.S.-based spot Bitcoin ETF, BlackRock is now preparing an exchange-traded product (ETP) linked to the cryptocurrency for Europe, according to Bloomberg, which cited anonymous sources.
The product will likely be "domiciled" in Switzerland, the report said . BlackRock's U.S.-listed spot Bitcoin ETF (IBIT) traces the price of bitcoin, which was trading hands at $97,598.95 as of 11:44 a.m. ET, according to The Block Price Page .
BlackRock's iShares Bitcoin Trust ETF is the largest BTC-based product trading with assets under management of nearly $57 billion, according to The Block Data Dashboard .
"The European market for cryptocurrency ETPs is hotly contested, with more than 160 products available tracking the price of bitcoin, ether and other tokens," the report said. "However, its $17.3 billion size pales in comparison to that of the U.S."
Bloomberg ETF analyst James Seyffart suggested BlackRock might run into issues launching its product in Europe.
"The cheeky work around they used in Canada might not be allowed in Europe. Possible that they might actually launch a standalone. Not sure," he said in a post to X .
BlackRock's IBIT fund broke multiple records last year thanks to its extraordinary growth.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Solana (SOL) Rebounds from Key Support: Can a Move Above This MA Trigger a Recovery?
![](https://img.bgstatic.com/multiLang/image/social/bb2d89d4f3a81d3f25960003132278a11739245625296.webp)
TAO and ATOM Approach Falling Wedge Resistance – Could Breakouts Spark a Recovery?
![](https://img.bgstatic.com/multiLang/image/social/751e1294dced14f55dfb8611155fb2e71739245624851.webp)
Bitcoin price rallies above $97K as institutional and retail traders’ appetites shrink
Bitcoin traders are not slamming the buy button, but most of their concerns are connected to macroeconomic conditions.
![](https://img.bgstatic.com/multiLang/web/4b0ebd9c57a5b7446959295be81b6e98.png)
NYSE Arca files for Cardano ETF on behalf of Grayscale as crypto proposals gain momentum
A Cardano spot exchange-traded fund could be on the horizon following the NYSE’s filing to propose such a product.Cardano (ADA) is the ninth largest crypto with a market cap of over $25 billion, according to The Block’s price data.
![](https://img.bgstatic.com/multiLang/image/social/0600e2c94e4fb971328c8bbbced70d6c1739235330791.jpg)
Trending news
MoreCrypto prices
More![Bitcoin](https://img.bgstatic.com/multiLang/coinPriceLogo/bitcoin.png)
![Ethereum](https://img.bgstatic.com/multiLang/coinPriceLogo/ethereum.png)
![Tether USDt](https://img.bgstatic.com/multiLang/coinPriceLogo/0208496be4e524857e33ae425e12d4751710262904978.png)
![XRP](https://img.bgstatic.com/multiLang/coinPriceLogo/ripple.png)
![Solana](https://img.bgstatic.com/multiLang/coinPriceLogo/solana.png)
![BNB](https://img.bgstatic.com/multiLang/coinPriceLogo/binance.png)
![USDC](https://img.bgstatic.com/multiLang/coinPriceLogo/usdc.png)
![Dogecoin](https://img.bgstatic.com/multiLang/coinPriceLogo/dogecoin.png)
![Cardano](https://img.bgstatic.com/multiLang/coinPriceLogo/cardano.png)
![TRON](https://img.bgstatic.com/multiLang/coinPriceLogo/tron.png)