BlackRock to Launch Bitcoin ETP in Europe

The $10 trillion asset manager BlackRock will launch a Bitcoin ETP in Europe that is tied to its Spot Bitcoin ETF in the United States. Indeed, the $58 billion US ETF tracking BTC will be available overseas, according to Bloomberg sources.

JUST IN: BlackRock to launch Bitcoin ETP in Europe, Bloomberg reports.

— Watcher.Guru (@WatcherGuru) February 5, 2025

The fund will likely be domiciled in Switzerland, according to people familiar with the plans who were not authorized to discuss the matter publicly. BlackRock could start marketing the Bitcoin ETP in Europe as soon as this month, one person said. BlackRock has yet to comment or confirm the announcement.

2024 was always an important year for the cryptocurrency sector. Yet, it has gone as well as anyone could’ve imagined. The United States approved two crypto-based ETFs throughout the year, with Bitcoin setting a record price mark not once, not twice, but three times over the last ten months. That has led to equally impressive performance for its various investment vehicles. Among them is BlackRock’s Bitcoin ETF, which surpassed $23 billion in net assets late last year. The success of BlackRock’s ETF has led to European interest, which the company will capitalize on with this ETP.

The European market for cryptocurrency ETPs is hotly contested, with more than 160 products available tracking the price of Bitcoin, Ethereum, and other tokens. However, its $17.3 billion size pales in comparison to that of the US.

“Being able to gain Bitcoin exposure via the ETP wrapper has proven to be a compelling combination for investors,” Samara Cohen and Jay Jacobs, BlackRock’s chief investment officer of ETFs and index investments and US head of thematic and active ETFs respectively, wrote in a blog post last month.