BlackRock is planning to launch its Bitcoin ETFs in Europe, which will most likely find a home in Switzerland

BlackRock's latest move

The asset giant BlackRock, after having led the rise of spot Bitcoin ETFs in America in 2024, is reportedly considering expanding the scope of its products in Europe.

The rumor comes from Bloomberg, which states that the manager is already well underway with the work to launch a new ETP (exchange-traded product, essentially a "European" ETF) in the EU based on BTC.

Presumably, according to the newspaper's sources, the new product will find a home in Switzerland, and will have the opportunity to approach the European market, which is currently decidedly less relevant than the American one.

With the entry of BL into play, however, the hierarchies could change. BlackRock's iShares Bitcoin Trust ETF, after all, is the largest product based on BTC, with assets under management of around 57 billion dollars.

BlackRock Prepares for European Launch

“The European crypto ETP market is very competitive, with more than 160 products available based on Bitcoin, Ethereum and other tokens,” Bloomberg’s report says. “However, it only has a $17.3 billion market share, which is almost insignificant compared to the U.S.”

BlackRock may not have an easy road to launching the ETFs in question, analyst James Seyffart said: “It’s possible they could actually launch a standalone product, but I’m not sure about that.”

There is no news, however, regarding Ethereum. According to Bloomberg, at this time there would be no plan for the launch of an Ethereum ETP by BL.