BlackRock's initiative to introduce a Bitcoin ETP in Europe after the success of its ETF in the U.S. CEO Larry Fink sees Bitcoin as a hedge against currency devaluation.
BlackRock, the world’s largest asset management company, intends to launch a Bitcoin Exchange-Traded Product (ETP) in Europe. This move comes after the remarkable success of the company’s Bitcoin Exchange-Traded Fund (ETF) in the U.S., which attracted nearly $60 billion in assets. According to Bloomberg, this fund will likely be based in Switzerland. Larry Fink, the CEO of BlackRock, recently at the World Economic Forum in Davos, supported Bitcoin’s role as a hedge against currency devaluation and predicted that broader institutional acceptance could push Bitcoin’s price to $700,000.
