In just over a year, BlackRock has swelled all records for ETF launches thanks to its Ishares Bitcoin Trust ETF (IBIT), which today weighs $ 57 billion by offering an exhibition to Bitcoin. After having assured its dominance in the United States, the finance giant intends to take over Europe with its new investment vehicle also based on Bitcoin.
Soon an ETP Bitcoin in Europe for BlackRock?
Blackrock is the largest asset manager in the world, with $ 11,550 billion in assets under management. One of its main sources of income comes from its many ETFs bringing him hundreds of billions of dollars in net entries.
In the crypto sector, BlackRock is best known for the Ishares Bitcoin Trust Etf (Ibit), Son ETF offering an exhibition during Bitcoin.
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Launched in January 2024, at the same time as the ETFs of many financial companies (Fidelity, Franklin Templeton, Wisdomtree, etc.), the Ibit of Blackrock has surpassed all the records. In just 10 months of existence, its performance has exceeded that of the last 2,800 ETF launched the last 10 years in the United States.
At a time when we write these lines, the ETF Bitcoin Spot de Blackrock weighs $ 57 billion, or 2.95 % of the BTC supply.
Wouldn't that be enough for the colossus of American finance? According to Bloomberg, who quotes sources having retained their anonymity given the confidential nature of the thing, Blackrock is preparing to launch an ETP backed by Bitcoin in Europe.
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In Europe, ETPs linked to cryptocurrencies have already existed for many years. Wisdomtree offers, for example, an exhibition to Bitcoin, Ether, ground, ADA, DOT or XRP. 21Shares also offers different ranges of ETPs offering to invest in the crypto, both on the main assets and on more elaborate products such as oracles (pyth) or tokenization (ONDO).
However, it is not for the moment not possible to offer ETFs linked to crypto within the European Union due to the regulations in force.
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The tentacles of the American giant are tightened on Europe
Regarding BlackRock, This is the first time that the finance giant has offered an investment vehicle relating to the crypto outside the United States. Although Europe already has an active market for ETPs backed by cryptocurrencies, with more than 160 products in circulation for a total of assets under management of $ 17.3 billion, it remains much lower than the American.
Blackrock therefore intends to impose itself on this structuring segment, while its CEO Larry Fink recently declared that Bitcoin could reach $ 700,000 in case it came to be adopted by sovereign funds. He also said that the BTC was an instrument to overcome the economic or political instability of the countries where money lost its value.
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According to Bloomberg, The future ETP Bitcoin of BlackRock could be launched this month, and would be domiciled in Switzerland.
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Source: Bloomberg
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