BlackRock, the world’s biggest investment firm, is bringing its Bitcoin ETF to Europe! This follows the huge success of their US Bitcoin ETF, which raked in a whopping $58 billion.
BlackRock’s Big Bitcoin Bet
The new fund will likely be based in Switzerland and could start being sold this month. This is a major step for BlackRock in the European crypto market, even though there are already some crypto ETFs available there. This will be their first crypto ETF outside of North America. BlackRock manages a massive $4.4 trillion in assets, so their entry is a big deal.
BlackRock CEO Larry Fink even publicly praised Bitcoin at the World Economic Forum in Davos, saying it could be a good way to protect against currency problems. Last year’s launch of US Bitcoin ETFs was a huge hit, attracting $116 billion across 12 different funds. BlackRock’s own ETF, IBIT, had the best-ever launch for an ETF.
Bitcoin’s Rising Star
Bitcoin’s price has been on a rollercoaster. It hit a record high of $109,241 in January. Increased interest from big financial players like BlackRock is partly due to positive government sentiment and clearer regulations. New EU crypto rules that came into effect at the end of December 2024 also helped.
While Europe already has over 160 crypto ETFs, the market is still relatively small at $17.3 billion compared to the US. But BlackRock believes offering Bitcoin exposure through an ETF is very attractive to investors. Currently, Bitcoin is trading around $96,770 after a recent dip.
