logo
Back to News
BlackRock's EU Bitcoin ETP Launch

BlackRock's EU Bitcoin ETP Launch

Cryptocurrency News

BlackRock to Launch Bitcoin ETP in Switzerland for EU Access

BlackRock, a global investment management corporation, is poised to launch a Bitcoin exchange-traded product (ETP) in Switzerland, making it accessible to investors within the European Union. This follows the firm's recent successful Bitcoin ETF launch in Canada, marking its first foray into offering such products outside North America.

Despite Bitcoin's price volatility following a significant rally in November, BlackRock's move demonstrates unwavering confidence in the cryptocurrency. The ETP offering is expected to significantly impact European markets.

BlackRock's Growing Bitcoin Presence

BlackRock's influence in the crypto space has grown substantially. Its IBIT product, launched earlier, has been lauded as a major success. The firm's significant holdings are a testament to its conviction in Bitcoin's long-term potential.

The upcoming European ETP launch is a strategic continuation of BlackRock's expansion into the crypto market, building upon the success of its Canadian ETF. The company's leadership has publicly expressed their belief in the compelling investment opportunity presented by Bitcoin through ETPs.

“Being able to gain Bitcoin exposure via the ETP wrapper has proven to be a compelling combination for investors,” noted BlackRock executives in a recent blog post.

Switzerland: A Strategic Hub

Switzerland's regulatory environment, particularly its reputation as a “Crypto Valley,” has made it an attractive location for this launch. While operating under Switzerland's regulations, BlackRock will also need to adhere to the EU's Markets in Crypto-Assets (MiCA) regulations to offer the product within the EU market.

This ETP launch reinforces BlackRock's bullish outlook on Bitcoin's future. While the asset's price has shown fluctuations recently, BlackRock's substantial investment and continued expansion into the Bitcoin ETP market indicate significant conviction.

Bitcoin Three-Month Price Performance
Bitcoin Three-Month Price Performance. Source: BeInCrypto

The success of BlackRock's IBIT ETF, which quickly surpassed assets under management (AUM) of numerous European ETFs, further supports this strategy. High trading volumes, even amidst Bitcoin's price fluctuations, add to the positive outlook.

BlackRock's significant capital and market influence suggests the ETP launch could substantially reshape the EU cryptocurrency market. The potential rewards for this strategic move appear substantial. While the company hasn't made official statements, unofficial sources suggest a launch within one month.

Codeum Note: Codeum offers a range of services crucial for the secure development and launch of blockchain projects, including smart contract audits, KYC verification, custom smart contract and DApp development, tokenomics and security consultations, and partnerships with launchpads and crypto agencies. These services are vital to mitigating risks associated with cryptocurrency investments and developments.

Share this article