BlackRock, the world's leading asset manager, has announced the launch of a Bitcoin ETP in Switzerland, following the success of its U.S. products.
Breaking New Ground in European Markets
BlackRock's decision to domicile its new Bitcoin ETP in Switzerland demonstrates strategic foresight. Zug's 'Crypto Valley' is internationally recognized for progressive digital asset regulation. However, BlackRock's ETP must comply with the EU's Markets in Crypto-Assets Regulation (MiCA) effective from 2023. Despite the maturity of the European cryptocurrency investment market, it presents unique opportunities. The company intends to start marketing the ETP as early as this month, but remains silent regarding this development.
Record-Breaking U.S. Performance
BlackRock's U.S.-based Bitcoin ETF, the iShares Bitcoin Trust (IBIT), holds the record for the most successful ETF launch, boasting $58 billion in assets. This experience in North America is invaluable for their European venture. Bloomberg ETF analyst James Seyffart notes that European products offer Bitcoin exposure with 25 basis point fees, making BlackRock's fee strategy crucial for competitiveness.
Leadership Vision
Larry Fink, CEO of BlackRock, has emerged as a prominent advocate for Bitcoin on Wall Street. His recent statements emphasized Bitcoin's potential as a hedge against currency debasement. With U.S. Bitcoin ETFs attracting over $35 billion in net inflows in 2024, analysts at Steno Research project approximately $48 billion in additional net inflows for European markets in 2025.
BlackRock continues to expand its footprint in the cryptocurrency industry, and the launch of a Bitcoin ETP in Switzerland is a significant step in reshaping the European markets.
