BlackRock plans to launch European Bitcoin ETP and is expected to register in Switzerland! IBIT funding scale reaches US$58 billion

Global asset management giant BlackRock plans to launch its first Bitcoin exchange-traded product (ETP) in Europe, which is expected to be registered in Switzerland.

Black Roller Bitcoin ETP: Registered in Switzerland, coming soon

According to Bloomberg, people familiar with the matter revealed that BlackRock plans to issue this Bitcoin ETP in Switzerland, and the promotion may start as soon as this month. A BlackRock spokesperson did not comment on this. As the world's largest ETF publisher, BlackRock manages more than $4.4 trillion in ETF assets. The move marks BlackRock's first entry into the cryptocurrency ETP market outside North America.

BlackRock IBIT scale reached US$58 billion, and the crypto market continues to be hot

BlackRock has become one of the most active financial institutions on Wall Street to embrace digital assets. Its CEO Larry Fink said at the World Economic Forum in January this year that Bitcoin is an important hedging tool to deal with currency depreciation.

Since the United States approved several bitcoin spot ETFs in January last year, market demand has continued to grow, and the total assets of 12 funds have reached US$116 billion. Among them, the Bitcoin spot ETF (iShares Bitcoin Trust, IBIT) launched by BlackRock performed the most outstandingly, with an asset scale of US$58 billion and setting a record for the best start-up in the history of ETF issuance.

The total market value of US Bitcoin spot ETFs has exceeded US$116 billion.

Competition in Europe is intensifying, and the United States still dominates the crypto ETP market

The cryptocurrency ETP market in Europe is fiercely competitive, and there are currently more than 160 ETP products tracking cryptocurrencies such as Bitcoin and Ethereum. However, the total size of the European ETP market is only US$17.3 billion, far lower than that of the US market.

The US crypto industry is expected to flourish in a more friendly regulatory environment and attract more financial institutions to enter. Bitcoin price has also risen, breaking through the all-time high of $109,241 in January this year. The Crypto Asset Market Supervision Framework (MiCA) launched by the EU in December last year provides a clearer legal basis for the market.

BlackRock's entry into the European market will further intensify competition for crypto investment. Future market trends still need to be paid attention to.

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