BlackRock is preparing to launch a European exchange-traded product linked to cryptocurrency, following the success of its US-based Bitcoin ETF. According to anonymous sources, the product will likely be based in Switzerland.
Currently, BlackRock’s iShares Bitcoin Trust ETF (IBIT) is the largest BTC-based product with assets under management of approximately $57 billion.
However, the European market for cryptocurrency ETPs is highly competitive, with over 160 products available tracking bitcoin, ether, and other tokens.
Despite this, the European market is significantly smaller at $17.3 billion compared to the US market. Bloomberg ETF analyst James Seyffart predicts that BlackRock may face challenges in launching its product in Europe.
