Following the runaway success of its U.S.-based spot Bitcoin ETF, BlackRock is now preparing an exchange-traded product (ETP) linked to the cryptocurrency for Europe, according to Bloomberg, which cited anonymous sources.
The product will likely be "domiciled" in Switzerland, the report said. BlackRock's U.S.-listed spot Bitcoin ETF (IBIT) traces the price of bitcoin, which was trading hands at $97,598.95 as of 11:44 a.m. ET, according to The Block Price Page.
BlackRock's iShares Bitcoin Trust ETF is the largest BTC-based product trading with assets under management of nearly $57 billion, according to The Block Data Dashboard.
"The European market for cryptocurrency ETPs is hotly contested, with more than 160 products available tracking the price of bitcoin, ether and other tokens," the report said. "However, its $17.3 billion size pales in comparison to that of the U.S."
Bloomberg ETF analyst James Seyffart suggested BlackRock might run into issues launching its product in Europe.
"The cheeky work around they used in Canada might not be allowed in Europe. Possible that they might actually launch a standalone. Not sure," he said in a post to X.
BlackRock's IBIT fund broke multiple records last year thanks to its extraordinary growth.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
