BlackRock is preparing to launch a Bitcoin exchange-traded product (ETP) in Europe, signaling its continued expansion into the cryptocurrency market. According to a source familiar with the matter, the product is expected to be launched within weeks, driven by growing demand for cryptocurrency exposure from both institutional investors and retail consumers.
The ETP will likely be domiciled in Switzerland, a financial hub known for its favorable regulations concerning digital assets. This move aligns with BlackRock’s recent efforts to deepen its involvement in the crypto space, including the establishment of iShares Digital Assets AG, a Zurich-based company focused on digital asset investment.
While BlackRock declined to comment on the plans, the launch marks a significant step for the company in bringing cryptocurrency investments to European markets.
U.S. Success Prompts European Expansion
BlackRock was one of the pioneers in offering exchange-traded products to track the spot price of Bitcoin. Following the U.S. Securities and Exchange Commission’s (SEC) approval of such products in January 2024, the institutional giant quickly rolled out its Bitcoin-linked product, IBIT. As of February 4, 2025, IBIT has seen rapid growth, accumulating net assets of $57.5 billion, according to BlackRock’s website.
However, the existing U.S.-domiciled products are not available to all global investors, prompting BlackRock to look to Europe, where it can tap into new investor pools seeking access to Bitcoin and other digital assets.
Crypto Regulation in Europe: A Double-Edged Sword
Despite BlackRock’s optimistic plans for the European market, the region’s crypto industry faces a more complex regulatory environment. The European Union’s Markets in Crypto-Assets Regulation (MiCA) was introduced in early 2023, and its implementation is expected to bring stricter rules and oversight for crypto businesses operating within the EU.
While these regulations are designed to provide a safer and more transparent environment for cryptocurrency investments, they could also pose challenges for crypto firms and investors. The evolving regulatory landscape means that businesses like BlackRock must carefully navigate compliance requirements while launching new crypto products in the region.
Conclusion
BlackRock’s move to launch a Bitcoin ETP in Europe reflects the increasing institutional interest in cryptocurrencies and the desire to provide investors with regulated, easily accessible ways to gain exposure to Bitcoin. As the company expands its offerings, the broader crypto industry will be watching closely to see how this move influences market dynamics, particularly in light of Europe’s evolving regulatory framework.
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