BlackRock Inc. (BLK)According to this month, the world’s largest ETF emittent can publish a Bitcoin exchange product (ETP) in Europe in Europe Bloomberg News.
The ETP would follow the success of its $ 59.3 billion Ishares Bitcoin Trust (IBIT)which was launched in the US last year and raised $ 37.5 billion. The new fund is said to be “directly bound to Bitcoin in Europe,” said the Bloomberg story. It is probably located in Switzerland and marketing can start this month, the story said.
IBIT was one of the first 10 new place Bitcoin ETFs that launched after the Securities and Exchange Commission approved them last January. They were followed by Spot Ethereum ETFs in July. The New York-based Ishares unit of BlackRock manages $ 3.04 trillion in 438 funds traded by the American stock exchange and also manages dozens in Europe.
In the US, Spot Bitcoin ETF’s investors have attracted cash since the price of Bitcoin fell by around $ 10,000 from a record high in recent weeks to around $ 97,000, while world markets news about President Trump’s announcement and then pause of 25% Rates for Canadian and Mexican import. Investors are piling up in Bitcoin funds while the Trump administration continues to promote with cryptocurrencies and as the fund transition in their functions as hedges against inflation.
The European BlackRock plan follows that of DWSwho became the newest “traditional” asset manager who enters the Crypto -ATP market and also became a member of Wisdomtree, Fidelity and Invesco. DWS manages $ 20.8 billion in 42 US ETFs.
Coinshares, Wisdomtree and Invesco announced Extra cost reductions in January with the price war that does not show signs of Let Up. Elsewhere, the European Securities and Markets Authority (EMSA) issued A warning for crypto assets after another peak in the price of Bitcoin, which states that the rise in the price “confirms their very volatile nature”.
Talk about ETF -Stroom‘In ETF ecosystem Unwaikt 2024, Michael Howell, director of Crosborder Capital, expects Bitcoin to hit $ 250,000 in the next three to five years while faith is decreasing in the American Treasury market.
The approval of the SEC from Spot Bitcoin ETF in the US led to a series of cutbacks on the costs for crypto ETPs in Europe.
This article was originally published In Etf.com Sister Publication ETF Stream.