In today's crypto news, BlackRock is set to launch a Bitcoin exchange-traded product (ETP) in Europe, following the success of its US spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), which amassed over $57 billion in net assets since its launch in January 2024. The new European Bitcoin ETP will be domiciled in Switzerland and is expected to start marketing this month. Meanwhile, the Trump administration is focusing on stablecoin regulation, aiming to bring innovation onshore as the market continues to grow offshore, with US-pegged stablecoins dominating the space. Trump's crypto czar, David Sacks, stated that stablecoins could potentially enhance the dollar's international dominance and drive demand for US Treasurys. Additionally, the SEC is restructuring its crypto unit, moving some lawyers to other departments and considering retroactive relief for token offerings following a shakeup in leadership since President Trump's inauguration.

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