06.02.2025 16:35
The world's largest asset management company, BlackRock, is preparing a Switzerland-based ETP (Exchange-Traded Product) for the European market following the success of its Bitcoin (BTC) ETF in the United States. According to a report by Bloomberg citing anonymous sources, the company is getting ready to establish its presence in the $17.3 billion European cryptocurrency market.
BlackRock's extraordinary success in the U.S. spot Bitcoin ETF market is encouraging the company to expand into new markets. The new Bitcoin ETP product, which is planned to be based in Switzerland, aims to become a significant player in the competitive European cryptocurrency market, which has over 160 products.
BlackRock Announces Switzerland-Based Bitcoin ETP Plan
Leading asset management firm BlackRock is taking a new step in its global cryptocurrency strategy. The iShares Bitcoin Trust ETF, with assets under management reaching $57 billion, is drawing attention with its effective performance. During this period, when Bitcoin is trading at $97,598.95, the company's move into Europe is generating excitement in the industry.
Bloomberg ETF analyst James Seyffart notes that BlackRock may face some challenges in the process of entering the European market. The analyst points out that the solution methods used by the company in Canada may not be applicable in Europe. This situation could lead BlackRock to develop a new and independent strategy for the European market.
The European cryptocurrency ETP market is evolving with over 160 products tracking various crypto assets, primarily Bitcoin and Ethereum. The total size of this market is around $17.3 billion. BlackRock's entry into the market could bring new dynamism to the European cryptocurrency asset management sector.