Key Points

• BlackRock’s new fund will most likely be domiciled in Switzerland.
• The world’s largest asset manager could reportedly start marketing the fund this month.

BlackRock is reportedly making moves to boost Bitcoin exposure in Europe. According to the latest reports from Bloomberg, the largest asset manager in the world is preparing to launch an exchange-traded product tied to BTC in Europe.

Bloomberg cited sources familiar with the situation and said that BlackRock’s new fund will most likely be domiciled in Switzerland. Also, the asset manager could start marketing the fund this month.

The launch of this new fund comes following the huge success of BlackRock’s Bitcoin ETF in the US.

BlackRock’s US Bitcoin ETF Has Almost $58 Billion in Total Net Assets

BlackRock launched in Bitcoin ETF in the US, IBIT, in January 2024. As of February 4, IBIT had $57.75 billion in total net assets, and a cumulative flow of over $40.7 billion, according to data from SoSoValue.

In March 2024, BlackRock’s CEO, Larry Fink, called IBIT, the fastest-growing product in history.

BlackRock’s IBIT is the largest ETF from a group of 12 funds, smashing industry records with the best-performing debut of any ETF in history, as also highlighted by Bloomberg.

Currently, all 12 Bitcoin ETFs in the US have over $116 billion in total net assets locked, with a cumulative total net flow of over $40.6 billion as of yesterday, according to data from SoSoValue.

BlackRock, a Leader in ETF Issuance

Bloomberg also noted that BlackRock is a leader in ETF issuance, managing over $4.4 trillion in assets across such products.

The firm has been one of Wall Street’s most important crypto supporters in recent years. It’s also worth noting that at the World Economic Forum in Davos in January, BlackRock’s CEO, Larry Fink addressed the benefits that Bitcoin has as a hedge against inflation.

Samara Cohen and Jay Jacobs, BlackRock’s chief investment officer of ETFs and index investments and US head of thematic and active ETFs respectively, said that being able to gain exposure to Bitcoin via the ETP wrapper has been proven a successful combination for investors.

ETPs linked to crypto have traded on European bourses for years now, however, the new fund would be BlackRock’s first crypto-linked ETP outside of North America.

BlackRock’s upcoming move will support growing Bitcoin adoption in Europe amidst global rising efforts to promote exposure to BTC and crypto.