Asset Management Titan BlackRock is said to be a new spot market Bitcoin (BTC) Exchange-Traded Product (ETP) in Europe, his first digital asset-related company in the continent.
According to a new report from Bloomberg, BlackRock – which has more than $ 10 trillion in assets under management – is ready for launch A BTC ETP in Europe after its American Ishares Bitcoin Trust ETF (IBIT) was a huge success.
Anonymous people who are familiar with the case say that the ETP will be established from Switzerland and that BlackRock could advertise the fund so quickly this month.
Trekte funds (ETFs) and ETPs enable traders to expose themselves to assets as precious metals and crypto without having to actually buy them physically.
BlackRock launched Ibit for the first time in January 2024 after years of delaying his bid by the US Securities and Exchange Commission.
Earlier, Bloomberg discovered that IBIT had the best debut of all other American BTC ETFs. At the time it turned out that IBIT had more assets than BlackRock’s Gold ETF, even though it was launched almost two decades earlier in 2005.
According to the BlackRock official websiteIBIT’s net assets are $ 57.4 billion, while Bloomberg reports that the total crypto ETP market in Europe is around $ 17.3 billion.
IBIT acts for $ 56.09 at the time of writing, a marginal decrease on the day, while the top crypto assets per market hood is rated at $ 98,146.
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