BlackRock, the world’s largest asset management company, is planning to launch a Bitcoin-related Exchange-Traded Product (ETP) for the European market following the remarkable success of its Exchange-Traded Fund (ETF) in the United States. This news was reported by Bloomberg based on anonymous sources. The European market for digital currency-related ETPs is highly competitive, with over 160 different products available for Bitcoin and altcoins. However, the market size of around $17.3 billion appears much smaller compared to the US market. Analysts believe BlackRock may face challenges in launching its product in Europe, as the solution used in Canada may not be compliant in Europe, potentially requiring BlackRock to launch an independent product. BlackRock’s Bitcoin ETF saw several records broken last year due to its extraordinary growth, quickly becoming one of the most popular digital asset investment products and attracting a significant amount of capital. Some analysts suggest the success of Bitcoin ETP in Europe will depend on BlackRock’s ability to adapt to local regulations and gain the trust of European investors.
