Blackrock Plans to Launch a Bitcoin ETP in Europe: Bloomberg
BlackRock is expanding its crypto offerings with its first non-US Bitcoin exchange-traded product (ETP) in Switzerland. Its US-based iShares Bitcoin ETF has accumulated nearly $60 billion AUM within its first year. As the world's largest asset manager with more than $10 trillion in AUM, BlackRock is well positioned to enter the European market even though firms like Kraken and Bitstamp have recently secured licenses for crypto derivatives. More competition could reduce the ETP fees, which have reached as high as 2.5% in Europe.