BlackRock Set To Launch Bitcoin-Linked ETP In Europe: Raises Stake In Strategy To 5%
BlackRock is set to launch its first Bitcoin-linked exchange-traded product (ETP) in Europe.
According to reports, the European Bitcoin ETP is anticipated to hit the market as early as February 2025. The fund is excepted to be based in Switzerland.
Notably, the move comes on the heels of BlackRock’s success with its US-based iShares Bitcoin Trust (IBIT), which has amassed an impressive $58 billion in assets under management.
The world’s largest asset manager with over $4.4 trillion in assets under management is expected to bring credibility in the Europe market and attract more investor interest.
Importantly, an SEC filing revealed that Blackrock has also raised its stake in Strategy, formerly MicroStrategy, to 5%.
As of 6 February 2025, the firm holds approximately 11.2 million shares. This went up from 4.09% in September 2024.
Following the disclosure, Strategy’s stock rose 2.8% in pre-market trading, reaching $331.90 per share.
JUST IN:
BlackRock increases its ownership of Strategy $MSTR to 5% – SEC Fillings pic.twitter.com/MTtd1dWPdA
— Bitcoin Magazine (@BitcoinMagazine) February 7, 2025
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WEF 2025: Blackrock CEO Says BTC Can Reach As High As $700,000
The World Economic Forum (WEF) meeting 2025 in Davos Switzerland, which is taking place from 20-24 January 2025, is seeing industry leaders convene under the theme of “Collaboration for the Intelligent Age.”
In a video interview, Larry Fink, the CEO of BlackRock, the world’s largest asset management firm said, “If you’re frightened of the debasement of your currency, or of the economic or political stability of your country, you can have an internationally based instrument called Bitcoin that will overcome those local fears.”
“I am a big believer of utilisation of that as an instrument,” Fink said.
*BLACKROCK’S FINK: “If you’re frightened of the debasement of your currency, or… of the economic or political stability of your country, you can have an internationally based instrument called Bitcoin that will overcome those local fears.. [BTC] could be $500k, $600k, $700k…” pic.twitter.com/HxDLWnbYz6
— Alex Thorn (@intangiblecoins) January 22, 2025
Talking about increasing portfolio allocation to crypto, Fink said, “I was with a sovereign wealth fund during this week and that was the conversation — ‘should we have a 2% allocation, should we have a 5% allocation?’ — if everyone adopted that conversation, it would be $500,000, $600,000, $700,000 per Bitcoin,”
Having said that Fink clarified that he is not promoting anything.
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