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📅 Timeframe: July 12, 22:00 – July 15, 22:00 (UTC+8)
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World Giant BlackRock Wants to Move Bitcoin to Europe: Preparations Have Begun! - Koin Bülteni
BlackRock, after the successful spot Bitcoin ETF in the US, is preparing to launch a new Bitcoin ETP based in Switzerland in Europe.
BlackRock, the world's largest asset management company, is preparing to launch a new Exchange Traded Product (ETP) linked to Bitcoin in Europe, following the successful spot Bitcoin ETF in the US. According to Bloomberg's anonymous sources, this product will be Swiss-based and will trade in European markets.
BlackRock's iShares Bitcoin Trust ETF (IBIT) fund, which is traded in the US, is currently the largest Bitcoin investment product with approximately $57 billion in assets under management.
On the other hand, while the crypto ETP market in Europe has a size of $17.3 billion, it is relatively small compared to the US.
Regulatory Barriers May Arise
Bloomberg ETF analyst James Seyffart noted that BlackRock may encounter some regulatory hurdles in its European launch.
BlackRock, which launched an ETF using regulatory gaps in the US and Canada, expressed that it may not be able to use this method in Europe and may have to create a completely new structure.
IBIT Continues to Break Records
BlackRock's IBIT fund became one of the largest Bitcoin investment vehicles in the market last year, recording a record growth. The company plans to target institutional investors in Europe by launching a crypto-linked ETP for the first time outside of North America. The launch is expected to begin this month.