BlackRock Expands Crypto Reach: Bitcoin ETP Coming to Europe

BlackRock to Launch Bitcoin ETP in Europe

BlackRock, the world's largest asset manager, is set to launch a Bitcoin (BTC) exchange-traded product (ETP) in Europe, according to a recent report by Bloomberg. This move comes after the overwhelming success of BlackRock's U.S. spot Bitcoin exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), which has amassed over $57 billion in net assets since its launch in January 2024. BlackRock's European Bitcoin ETP is expected to be domiciled in Switzerland and could be marketed as early as this month.

As a leading ETF issuer with over $4.4 trillion in assets under management (AUM) across its suite of ETPs, this would be BlackRock's first Bitcoin ETP outside of North America. The launch of this new product aligns with BlackRock's strategy to expand its crypto offerings and meet growing investor demand for exposure to digital assets.

BlackRock has been doubling down on the success of its IBIT fund, launching a new Bitcoin ETF on the Cboe Canada in January. Overall, U.S. Bitcoin ETFs saw more than $35 billion in aggregate net inflows in 2024, with an average of $144 million in net inflows each trading day. In November 2024, U.S. BTC ETFs broke the $100 billion net assets milestone for the first time, and crypto analysts at Steno Research expect another roughly $48 billion worth of net inflows in 2025.

Investment bank JPMorgan noted in a December report that Bitcoin has become a more important component of investors' portfolios structurally, as they increasingly seek to hedge against geopolitical risk and inflation. Asset manager Sygnum Bank expects surging institutional inflows to potentially send BTC's price soaring in 2025.