- Blackrock Eyes Europe for international expansion of its BTC-related ETP products.
- ETF analyst Eric Balchunas is pessimistic about the likely demand for the EU ETP.
Blackrock, the world’s largest asset manager with more than $ 11 trillion in AUM (assets under management), is planning to expand Bitcoin-Related Exchange-treated products to Europe.
According to a Bloomberg reportThe fund will probably be located in Switzerland, and the marketing efforts for the product can start this month, per narrow sources interviewed by the publisher.
US, Asia dominate BTC ETFs
In a commentary on the update, the Senior ETF analyst Van Bloomberg noted that the US and Asia are currently dominating the BTC ETF market.
The analyst too said That Europe does not like ‘hot’ trends.
“Hardly on the Leaderboard of Spot Bitcoin ETF’s Leaderboard. Should see, although Europeans keep in mind much less in ‘hot sauce’ than we and certain Asian countries. “
Source: X
From this letter, details about the costs of the product were not yet public.
That said, BlackRock was one of the first emennials to be approved to launch an American place BTC ETF in early 2024.
The product, Ishares Bitcoin ETF (IBIT), has also been the most successful both crypto scene and on traditional markets.
From 4 February, IBIT had collected more than 585.3k BTC, worth almost $ 58 billion on the basis of press market prices.
Best GOK is Bitcoin: BlackRock CEO
Interestingly, BlackRock CEO Larry Fink has also doubled on BTC. He repeated that it was best active in choice for anyone who sought refuge through Fiat Debasement (inflation) or political instability.
In fact, during the recent World Economic Forum in Davos, Switzerland, he stated”
“If you are afraid of the depreciation of your currency, or … of the economic or political stability of your country, you can have an internationally based instrument called Bitcoin that will overcome those local fears. BTC can be $ 500k, $ 600k, $ 700k “