Sources reveal that BlackRock is preparing to launch a new product, a bitcoin ETP, in Europe in the coming weeks. With growing interest from both institutional and retail investors, this move could significantly impact the market.
BlackRock's Plans for the European Market
According to information provided to Reuters, the new product will be domiciled in Switzerland. Recently, the company also established a new entity, iShares Digital Assets AG, in Zurich, focused on digital assets. Despite BlackRock's refusal to comment, this step indicates a serious intent to strengthen its presence in the European cryptocurrency market.
Launch Context and Market Reaction
BlackRock was among the first major institutional players to offer exchange-traded products based on bitcoin's spot price following the U.S. Securities and Exchange Commission's approval of such funds in January 2024. The SEC's decision was a significant milestone for the crypto industry, supporting expectations for further mainstream cryptocurrency adoption.
Regulatory Changes in Europe
The U.S. crypto market supports positive dynamics following Donald Trump's election and his pro-crypto stance. However, the European market faces stricter regulatory conditions. The European Union's Markets in Crypto-Assets Regulation (MiCA), introduced in early 2023, is gradually being implemented, creating new compliance requirements for businesses operating in the European crypto sector.
BlackRock's plans to launch a bitcoin ETP in Europe reflect growing interest in cryptocurrencies among institutional investors. This move could become a significant milestone in strengthening the position of digital assets in the European market.
