BlackRock Inc., the world’s largest asset manager with over $11.5 trillion in assets under management, is preparing to introduce a spot Bitcoin exchange-traded product (ETP) in Europe, according to a report from Bloomberg.

The fund is expected to be based in Switzerland, with marketing potentially beginning as early as this month, sources familiar with the matter stated. However, a BlackRock spokesperson declined to comment.

This development would mark another expansion of BlackRock’s Bitcoin-related investment offerings. 

The firm has previously launched spot Bitcoin ETFs in Canada and Brazil, expanding its presence in the global Bitcoin and digital asset markets.

BlackRock’s U.S.-based spot Bitcoin ETF, IBIT, has gained significant traction, accumulating over $50 billion in assets under management within its first year.

At the World Economic Forum in Davos in January, BlackRock CEO Larry Fink discussed Bitcoin’s potential, stating that broader institutional adoption and macroeconomic factors such as currency concerns and economic instability could influence its price trajectory. 

He suggested that, under certain conditions, Bitcoin could reach significantly higher valuations.

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