Blackrock (BLK), the world's largest asset management firm, is set to launch a bitcoin exchange-traded product (ETP) in Europe, specifically based in Switzerland. This move marks Blackrock's first foray into crypto-linked ETPs outside of the U.S., where its iShares Bitcoin ETF (IBIT) has gathered nearly $60 billion in assets in just over a year. The firm could start marketing the new product as soon as this month. This initiative comes as other investment firms, including Kraken, have recently entered the European crypto ETP market. However, several uncertainties remain around the new ETP, particularly regarding its fee structure, which could significantly impact performance. Current U.S. bitcoin ETFs dominate the global market, holding 91% of it. Blackrock has not provided comments on the launch as of the report's time.

Source 🔗