Blackrock Eyes Europe for Bitcoin ETP Amid Institutional Crypto Boom

Blackrock, the world's largest asset management firm, is reportedly preparing to introduce a spot bitcoin exchange-traded product (ETP) in Europe

Blackrock is reportedly planning to launch a spot bitcoin exchange-traded product (ETP) in Europe, expanding its digital asset footprint beyond North America. The world’s largest asset management firm is preparing to launch a bitcoin ETP in Switzerland as soon as this month, people familiar with the matter told Bloomberg.

The move comes after the asset manager’s U.S.-listed bitcoin ETF has amassed nearly $60 billion in assets. Blackrock, which has more than $4.4 trillion in ETF-related assets under management, is yet to enter Europe's crypto investment market.

However, cryptocurrency-linked ETPs have been trading in Europe for several years now.

Blackrock CEO Larry Fink has highlighted the asset manager's increasing focus on digital assets, recently speaking about bitcoin's role as a hedge against currency devaluation at the World Economic Forum in Davos.

Speaking on a panel at the event, Fink projected that broader institutional adoption could push bitcoin’s price as high as $700,000. He recalled a discussion with a sovereign wealth fund considering an allocation of 2% to 5% in bitcoin.

"There was a conversation, 'Should we have a 2% allocation? Should we have a 5% allocation?' If everybody adopted that conversation, it would be $500,000, $600,000, $700,000 for bitcoin,” he said.

Fink positioned bitcoin as a financial safe haven, especially for investors in countries experiencing economic instability or currency devaluation.

"If you're afraid of the debasement of your currency, or you're frightened of the economic or political stability of your country, you can have an internationally based instrument called bitcoin that will overcome those local fears,” he explained.

The introduction of multiple U.S. spot bitcoin ETFs over the past year has attracted significant institutional interest, with 12 funds collectively attracting $116 billion, according to Bloomberg.

Blackrock's Ishares Bitcoin Trust (IBIT) has led the way, setting records with the most successful ETF debut to date. As of Feb. 6, IBIT holds around 585,732 BTC, with a market value of more than $56,521,103,748.

The fund's rapid growth has outpaced several traditional ETFs, garnering billions in investment and setting new benchmarks for cryptocurrency-based financial products. Analysts attribute IBIT's performance to the increasing institutional demand for BTC.

Since U.S. President Donald Trump's re-election, bitcoin's value has soared, reaching an all-time high in January. Anticipation of clearer regulatory guidelines and shifting political conditions have further stimulated institutional participation in the cryptocurrency market.

While U.S.-based bitcoin funds have attracted substantial capital, Europe's cryptocurrency ETP sector is comparatively smaller, with a total market value of $17.3 billion spread across more than 160 products tracking bitcoin, ether, and other digital assets.