BlackRock plans to launch its first Bitcoin ETP in Europe, likely in Switzerland, after the success of its $58 billion US ETF.

The world's largest asset manager is set to expand its Bitcoin footprint internationally with a new exchange-traded product in Switzerland.

BlackRock Inc., the world's largest asset manager, is gearing up to launch a Bitcoin Exchange-Traded Product (ETP) in Switzerland.

BlackRock, the world’s biggest asset manager with over $9.5 trillion under its belt, is preparing to launch a Bitcoin exchange-traded product (ETP) in Switzerland, according to a Bloomberg report. This will be BlackRock’s first major crypto move outside North America.

“Europe barely on leaderboard of spot bitcoin ETFs by size.. US spot ETFs only year old and have 91% (!) share of world…If BlackRock brings even some of the US Terrordome over there, should see success, although keep in mind Europeans much less into ‘hot sauce’ than US and certain Asian countries.”

BlackRock is gearing up to launch a bitcoin exchange-traded product in Europe within weeks, a source familiar with the matter told Reuters, amid growing demand for exposure to cryptocurrencies from both money managers and consumers.