In a major development of the Bitcoin (BTC) market, Blackrock, the largest asset manager in the world, is preparing to enter a trading exchange (ETF) directly associated with BTC in Europe.
This step follows the success of the 58 billion dollar investment fund Digital assets area.
Blackrock CEO is invited to the BTC value
According to For Bloomberg, the new box is expected to be based in Switzerland. Blackrock can start marketing the fund as soon as this month, which represents a pivotal moment in the company’s project in European encrypted currency products.
Although the Investment Funds associated with encrypted currencies were available on European stock exchanges for several years Etf associated with encryption Outside North America. As a leader in the issuance of the boxes circulating on the stock exchange, Blackrock runs more than $ 4.4 trillion of assets across various products.
The company has emerged as a prominent supporter of the category of digital assets, as CEO Larry Fink recently highlighted the capabilities of Bitcoin as a hedge against the currency during the World Economic Forum (WEF) in Davos.
Several investment funds circulated in the United States linked to Bitcoin last year Big request For assets category, which leads to a flow of $ 116 billion through 12 boxes so far, according to Bloomberg data.
ISHares Bitcoin Trust (Ticker Ibit) from Blackrock has significantly set the industry records, including the first appearance of the first time in any box circulated on the stock exchange in history.
An increased appeal from the investment funds circulated in Bitcoin
The cryptocurrency market has witnessed a large rally since the election of US President Donald Trump, as Bitcoin reached the highest record of $ 109241 in January.
The increasing interest in financial institutions with Trump’s voice support for the industry and the promise of the next Systems It can provide clearer guidance for companies that transport encrypted scene.
New regulations also entered into the coded currencies in the European Union (European Union) in late December 2024, which encouraged institutional participation.
Despite the competitive scene, with more than 160 from ETPS Cryptocurrency currently available in Europe followed Bitcoin, ETHEREUM (ETH), and other symbols, the total market size is still $ 17.3 billion modestly compared to strong anxiety American market.
In a newly blocked publication, the Blackrock Samara Cohen and Jay Jacobs executives noticed that the combination of Bitcoin’s exposure through the ETF cover has proven to be an attractive option for investors.
At the time of writing this report, the leading cryptocurrency in the market decreased to the mark of 96,770 dollars, and lost the level of 100,000 dollars after a 7 % decrease in prices was exposed to the weekly timetable.
Distinctive image from Dall-E, Chart from TradingView.com