BlackRock to launch Bitcoin ETP in Europe after IBIT success

BlackRock, the world's largest asset manager, is set to introduce a Bitcoin (CRYPTO:BTC) exchange-traded product (ETP) in Europe, following the success of its U.S. spot Bitcoin ETF, iShares Bitcoin Trust (IBIT).

BlackRock’s IBIT saw nearly $60 billion in assets in just over a year since opening for business and is America’s most popular spot Bitcoin ETF.

The European Bitcoin ETP will reportedly be based in Switzerland, and BlackRock plans to begin marketing it as early as this month.

This marks BlackRock's first Bitcoin ETP outside of North America.

BlackRock is a top ETF issuer, with $4.4 trillion in assets under management (AUM) across its suite of ETPs.

According to Bloomberg ETF analyst James Seyffart, BlackRock could potentially launch the new ETP in a similar way it did in Canada, where the Canadian ETP is a wrapper for IBIT.

However, Seyffart noted that such a move would have a low chance of success in Europe.

The European market for crypto ETPs includes more than 160 products that track Bitcoin, Ethereum (ETH), and other digital assets, with a cumulative value of $17.3 billion.

Senior Bloomberg analyst Eric Balchunas noted that U.S.-based Bitcoin ETFs currently hold 91% of the world market.

"U.S. ETFs blow away the rest of the world in cost and liquidity but either way shows commitment from the world's biggest asset manager who has a big presence overseas," he also stated.

BlackRock has been expanding its crypto product suite internationally, launching a new Bitcoin ETF on the Cboe Canada in January, which allows Canadian investors to access BlackRock’s flagship U.S. spot Bitcoin fund.

Crypto analysts at Steno Research expect Bitcoin ETFs to attract approximately $48 billion worth of net inflows in 2025.

At the time of reporting, the Bitcoin (BTC) price was $97,644.87.