Key Points
- BlackRock, the world’s largest asset manager, plans to expand its Bitcoin-related exchange-traded products to Europe.
- BlackRock CEO Larry Fink has reiterated that Bitcoin is the best asset for those seeking refuge from inflation or political instability.
BlackRock, known as the world’s largest asset manager, is reportedly planning to expand its Bitcoin-related exchange-traded products (ETPs) to Europe.
A Bloomberg report indicates that the fund will likely be based in Switzerland and that marketing for the product could begin as early as this month.
US and Asia Dominate BTC ETFs
Bloomberg’s senior ETF analyst has noted that the U.S. and Asia are currently leading the BTC ETF market.
The analyst also mentioned that Europe is not as involved in ‘hot’ trends.
Details regarding the product’s fees remain undisclosed at this time.
However, it’s worth noting that BlackRock was among the first issuers to receive approval for a U.S. spot BTC ETF in early 2024.
Their product, the iShares Bitcoin ETF (IBIT), has seen significant success within both the crypto scene and traditional markets.
As of February 4th, IBIT had amassed over 585.3K BTC, valued at nearly $58 billion based on current market prices.
Bitcoin: The Best Bet According to BlackRock’s CEO
BlackRock’s CEO, Larry Fink, has also expressed his support for Bitcoin.
Fink has reiterated that Bitcoin is the best asset for those seeking refuge from inflation or political instability.
During the recent World Economic Forum in Davos, Switzerland, he stated that Bitcoin could potentially reach values of $500k, $600k, or $700k.
