BlackRock plans to launch the European BTC ETP! The IBIT fund has reached a record-breaking $58 billion in initial issuance

Leading asset management company BlackRock is preparing to launch a BTC ETP in Europe, which is expected to be registered in Switzerland.

The BlackRock BTC ETP will be registered in Switzerland and will be promoted as early as this month.

According to Bloomberg, citing sources familiar with the matter, BlackRock plans to establish this new BTC ETP in Switzerland, which may start promoting as early as this month, but a BlackRock spokesperson declined to comment. As one of the world's largest ETF issuers, BlackRock currently manages over $4.4 trillion in ETF assets. Although the European market has long had ETP products linked to cryptocurrencies, this will be BlackRock's first such product to be launched outside of North America.

The cryptocurrency market is hot, with BlackRock IBIT fund reaching a scale of 58 billion yuan.

Become one of the most supportive financial institutions for digital assets on Wall Street (The Wall Street), BlackRock, CEO Larry Fink also stated at the World Economic Forum (WEF) in January this year that BTC is an important hedging tool against currency depreciation.

In fact, since January last year, the United States has successively approved multiple BTC spot ETFs, and market demand has continued to grow. Up to now, a total of 12 funds have been launched, with a total of 116 billion US dollars. Among them, iShares Bitcoin Trust, IBIT( launched by BlackRock, has performed the most brilliantly.