Source: Blockchain Knight

According to Bloomberg News on February 5, BlackRock is preparing to launch a BTC-linked exchange-traded product (ETP) in Europe.

Source familiar with the matter revealed that the fund is expected to be registered in Switzerland, and BlackRock may start selling the product as early as this month.

Bloomberg ETF analyst James Seyffart said BlackRock has the potential to launch new ETP in a similar way in Canada. Canadian ETP is the packaging of BlackRock's spot BTC ETF IBIT launched in the United States.

Seyffart, however, points out that the chances of success in Europe are low.

Seyffart stressed that BlackRock BTC ETP charges 25 basis points and 32 basis points (bps) in the United States and Canada, respectively.

It is worth noting that European products have already provided BTC exposure through funds that charge 25 basis points.

Eric Balchunas also expressed interest in learning about the fees BlackRock charges in Europe.

Balchunas explained that the United States is usually the best in the rest of the world in terms of cost and liquidity.

Balchunas added: "Every approach is taken, it shows the commitment of the world's largest asset manager, as it has a huge business overseas."

Europe The Crypto Asset ETP market includes over 160 products that track BTC, Ethereum (ETH) and other digital assets. The cumulative value of the market is US$17.3 billion.

Balchunas stressed that the European Crypto ETF market is “almost not on the rankings” because US spot BTC ETFs account for 91% of the global share.

Balchunas believes that BlackRock has the opportunity to bring "Terrordome of the United States" to Europe and thus achieve success.

However, Balchunas noted that unlike U.S. and Asian investors, European investors have less interest in high-risk investment products.

According to Farside Investors, IBIT recorded a net inflow of $40.7 billion as of February 4.

Its inflow is more than three times that of FBTC, the second largest spot BTC ETF, Fidelity.