Blackrock to Launch Bitcoin ETP in Europe
Date: 2025-02-06 Author: Gabriel Deangelo Categories: BUSINESS
The world’s largest asset manager Blackrock is planning to launch a Bitcoin-linked exchange-traded product (ETP) in Europe. Bloomberg reports that the fund’s marketing campaign could begin in the coming weeks.
The move would be the company’s first foray into cryptocurrency investment products outside the US. Currently, the iShares Bitcoin ETF (IBIT), launched by Blackrock in America, has been showing impressive results, having raised almost $60 billion under management in just a year since its launch.
The fund will be based in Switzerland, making it a strategic move for Blackrock given the growing interest of European investors in cryptocurrency instruments. The area is attracting a growing number of market participants, including Kraken, which recently received a derivatives license, as well as companies such as Bitstamp and FTX EU.
Blackrock's entry into the European crypto ETP market could intensify competition among providers of such products. In the US, similar funds that appeared in January 2024 have triggered lower fees and increased liquidity. In Europe, there have already been attempts to attract clients by temporarily waiving fees, with fees reaching 2.5% in some cases.
The structure of the new fund's fees remains an open question, which could significantly affect its attractiveness to investors. "The size of the fee is still unknown, but this will be a key factor," said Bloomberg senior analyst Eric Balchunas. He emphasized that American ETFs have better indicators in terms of cost and liquidity, but the very appearance of such a fund from the world's largest asset manager indicates the company's serious intentions at the global level.
