Key Points
- BlackRock, the world’s largest asset manager, is planning to launch a Bitcoin ETP in Europe.
- The move comes after the success of its US-based Bitcoin ETF, which managed $58 billion.
BlackRock, the world’s leading asset manager, is gearing up to introduce a Bitcoin exchange-traded product (ETP) in Europe. This marks a significant step beyond North America, following the resounding success of its US-based Bitcoin ETF, the iShares Bitcoin Trust (IBIT), which managed $58 billion.
Expansion into Europe
According to Bloomberg, the fund is likely to be based in Switzerland and BlackRock could start marketing it as soon as this month. However, the company has not made any official statements about the development.
BlackRock, which manages more than $4.4 trillion in exchange-traded fund (ETF) assets, has been steadily making its way into the crypto space. Although Europe has had cryptocurrency-linked ETPs for years, this would be BlackRock’s first such offering outside the US and Canada.
Bitcoin ETFs and Institutional Adoption
Global interest in Bitcoin ETFs has shot up, particularly after multiple Bitcoin ETFs debuted in the US a year ago. These funds have collectively attracted an impressive $116 billion in assets, according to Bloomberg data. The iShares Bitcoin Trust (IBIT) leads the pack, setting industry records as the best-performing ETF launch in history.
BlackRock has been actively expanding in the crypto ETF space. In January, the firm launched a Bitcoin ETF on the Cboe Canada exchange, giving Canadian investors access to its flagship US Bitcoin product. This international push indicates BlackRock’s growing confidence in crypto-based investment vehicles.
US Bitcoin ETFs recorded net inflows exceeding $35 billion in 2024, averaging $144 million in new investments per trading day. The sector continues to grow at an unprecedented rate, with analysts from Steno Research forecasting an additional $48 billion in net inflows for Bitcoin ETFs in 2025.
Despite the surge in demand, Europe’s cryptocurrency ETP market remains a fraction of its US counterpart. Over 160 crypto ETPs track Bitcoin, Ether, and other digital assets across European exchanges, but they collectively hold just $17.3 billion—far below the US market’s size.
BlackRock’s executives, Samara Cohen and Jay Jacobs, have noted the growing interest in gaining Bitcoin exposure via the ETP wrapper. The firm’s CEO, Larry Fink, has been one of Wall Street’s most vocal advocates of Bitcoin, emphasizing Bitcoin’s potential as a hedge against currency debasement.
Bitcoin’s price has surged amid shifting political and regulatory landscapes. Following the re-election of US President Donald Trump, the cryptocurrency soared to an all-time high of $109,114 in January. Trump’s pro-crypto stance has fueled optimism that clearer regulations will encourage more financial institutions to enter the space.
The European Union rolled out new cryptocurrency regulations in late December, providing more clarity to firms operating in the region. This regulatory framework could provide a boost for BlackRock’s European Bitcoin ETP, making institutional adoption easier.
