The SEC is reviewing BlackRock's proposal to allow authorized participants to receive Bitcoin instead of cash when redeeming shares of its Bitcoin ETF

BlackRock plans Bitcoin ETP launch in Europe, building on its US success as demand for digital assets grows amid regulatory clarity.

The fund would be based in Switzerland and BlackRock could start marketing it as soon as this month, according to the story.

Asset management titan BlackRock is reportedly going to list a new spot market Bitcoin (BTC) exchange-traded product (ETP) in Europe, its first digital asset-related venture into the continent.

BLACKROCK, the world’s largest asset manager, is preparing to list an exchange-traded product (ETP) tied directly to Bitcoin in Europe, following on from the success of its US$58 billion US exchange-traded fund (ETF) tracking the cryptocurrency.

“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.