Global asset management giant BlackRock is set to launch its first Bitcoin exchange-traded product (ETP) in Europe, following the massive success of its $58 billion U.S. Bitcoin ETF.
According to sources cited by Bloomberg, the fund is expected to be domiciled in Switzerland, with marketing efforts potentially beginning as early as this month.
BlackRock’s entry into the European crypto ETP market marks another significant step in its deepening involvement with digital assets. Exchange-traded products (ETPs) allow investors to gain exposure to assets—such as Bitcoin—through regulated stock exchanges, similar to traditional stocks and shares.
Larry Fink, BlackRock’s chairman and CEO, has previously expressed confidence in Bitcoin as a “legitimate financial asset class,” particularly for investors seeking alternatives outside traditional financial systems. His firm’s latest move reinforces this stance, further solidifying Bitcoin’s place in mainstream investment portfolios.
Looks like BlackRock is going to launch a Bitcoin ETF in Europe according to my colleagues in Bloomberg news ( @emilyjnicolle)
Can’t tell from article but guessing they will follow same playbook they used in Canada? Where the ETF is just a wrapper that holds IBIT (the US ETF) pic.twitter.com/Cqp9tlWsky
— James Seyffart (@JSeyff) February 5, 2025
The decision to expand into Europe comes on the heels of a record-breaking year for U.S. spot Bitcoin ETFs. In 2023, the market saw inflows of $116 billion across 12 funds, with BlackRock’s iShares Bitcoin Trust (IBIT) emerging as the dominant player.
The fund made history as the best-performing ETF debut ever, amassing 563,134 BTC (worth approximately $55.6 billion at current prices) by January 22.
While Europe’s cryptocurrency ETP market is smaller—valued at $17.3 billion compared to the U.S.—it is highly competitive, with over 160 existing products. However, recent EU crypto regulations, introduced in December, could provide greater institutional clarity and adoption, making it a more attractive environment for major financial players like BlackRock.
As BlackRock prepares to roll out its Bitcoin ETP in Switzerland, its expansion into Europe could further legitimize digital assets in global markets.