BlackRock to list Bitcoin ETP in Europe: report

Blackrock plans to launch its first Bitcoin negotiated product in Europe after the success of Sound Etf Bitcoin of 58 billion dollars.

The fund should be domiciled in Switzerland, sources familiar with the question Tell Bloomberg.

Blackrock could start to market the product this month. Its entry into the European Crypto ETP market marks another step in the growing embrace of digital assets by the company.

Stock market negotiated products are a category Titles following the value of one or more underlying assets. ETPs can be negotiated on regulated scholarships in the same way as the company’s shares and shares.

In the past, the president and chief executive officer of Blackrock Larry Fink says he believes Bitcoin (BTC) is a “legitimate financial asset class” for those looking for financial control outside traditional systems.

Bitcoin negotiated products

This decision comes after the US spot bitcoin ETF The market took off last year, pulling $ 116 billion over 12 funds.

Blackrock’s ishares Bitcoin Trust Directed the marketEstablishing recordings such as the most efficient ETF beginnings in history. January 22, Blackrock’s Ibit added 6,470 BTC to his assets, bringing his total to 563,134 BTC. Based on current market prices, BlackRock Ibit Bitcoin holdings are valued at $ 55.6 billion.

Although the European cryptocurrency European market is competitive, with more than 160 products, it remains smaller than its American counterpart, with a total market size of $ 17.3 billion. However, the new EU cryptography regulations implemented in December could give greater clarity to institutional adoption.