Blackrock Expands Crypto Offerings with Bitcoin ETP in Europe

Bitget App

Trade smarter

Insidebitcoin2025/02/10 05:22

By:Insidebitcoin

Blackrock, the world’s largest asset management firm, is set to expand its cryptocurrency investment products by launching a spot Bitcoin exchange-traded product (ETP) in Europe. The move follows the remarkable success of its U.S.-listed Bitcoin exchange-traded fund (ETF), which has amassed nearly $60 billion in assets. According to sources cited by Bloomberg, the new fund is expected to be based in Switzerland, with promotional efforts potentially beginning as soon as this month.

Blackrock’s Expansion into the European Crypto Market

Although cryptocurrency ETPs have existed in Europe for several years, this marks Blackrock’s first venture into the region’s digital asset market. The firm already holds a dominant position in the exchange-traded fund industry, managing over $4.4 trillion in ETF-related assets. With this new Bitcoin ETP, Blackrock aims to cater to the rising institutional demand for cryptocurrency investment options in Europe.

Larry Fink, Blackrock’s Chief Executive Officer, has recently voiced strong support for Bitcoin as a hedge against currency devaluation. Speaking at the World Economic Forum in Davos , Fink highlighted Bitcoin’s potential role in institutional portfolios, citing discussions with sovereign wealth funds about allocating 2% to 5% of their holdings to the cryptocurrency. He suggested that widespread institutional adoption could drive Bitcoin’s price to levels between $500,000 and $700,000.

Fink further emphasized Bitcoin’s appeal as a financial safe haven, particularly for investors in regions facing economic instability or currency devaluation. He explained that Bitcoin provides an internationally recognized financial instrument that can serve as protection against local economic concerns.

Growing Interest in Bitcoin Investments and Blackrock’s Role

The past year has seen a surge in institutional interest in Bitcoin, largely driven by the introduction of multiple spot Bitcoin ETFs in the U.S. Bloomberg data reveals that 12 such funds have collectively attracted approximately $116 billion. Blackrock’s iShares Bitcoin Trust (IBIT) has been a standout performer, recording the most successful ETF debut to date. As of February 6, IBIT holds around 585,732 BTC, with a market valuation exceeding $56.5 billion. Its rapid growth has surpassed many traditional ETFs, demonstrating the increasing demand for cryptocurrency-based financial products among institutional investors.

Bitcoin’s value has reached record highs since the re-election of U.S. President Donald Trump, fueled by expectations of clearer regulatory policies and evolving political conditions. While U.S.-based Bitcoin funds have seen significant capital inflows, Europe’s cryptocurrency ETP market remains smaller by comparison. Currently, the European market comprises over 160 cryptocurrency-tracking products , including those for Bitcoin and Ethereum, with a combined market value of approximately $17.3 billion.

With its European Bitcoin ETP, Blackrock aims to capitalize on the growing institutional interest in digital assets while expanding its presence in the global cryptocurrency investment landscape. As institutional adoption continues to rise, this new offering could help bridge the gap between traditional finance and the expanding crypto market.

Solaxy Token: A Layer 2 Solution on Solana

Solaxy Token (SOLX) is a newly introduced cryptocurrency built as a Layer 2 solution on the Solana blockchain. The project aims to enhance transaction speed, scalability, and cost-efficiency, addressing some of the key challenges in the current blockchain ecosystem. With the rapid growth of decentralized applications (dApps) and financial transactions on Solana, Solaxy seeks to optimize network performance and provide users with a seamless experience.

How Solaxy Enhances the Solana Ecosystem

Solaxy is designed to improve scalability by utilizing off-chain processing and transaction bundling. By operating as a Layer 2 solution, it reduces congestion on the Solana network, ensuring that transactions are processed faster and at a lower cost. This makes it an attractive option for various blockchain applications, including decentralized finance (DeFi), gaming, and microtransactions.

One of the standout features of Solaxy is its ability to facilitate rapid and affordable transactions. With increasing demand for blockchain efficiency, many networks face issues with high fees and slower transaction speeds. Solaxy addresses these challenges by offering a streamlined alternative that maintains security while enhancing performance.

Tokenomics and Supply

The total supply of SOLX tokens is capped at approximately 138 billion. The project has structured its token distribution to support development, marketing, and future ecosystem growth. A portion of the tokens is allocated for staking rewards, incentivizing users to participate in the network while maintaining liquidity and engagement within the community.

Development Roadmap

Solaxy has outlined a phased development approach. Initially, the project focuses on launching and distributing SOLX through a presale, along with staking incentives to encourage early participation. The next phase involves listings on major decentralized and centralized exchanges to increase accessibility. In the final phase, the team plans to fully deploy the Solaxy Layer 2 blockchain, integrating it with dApps and enhancing its scalability features.

As blockchain technology continues to evolve, scalability remains a crucial factor in ensuring smooth and efficient transactions. Solaxy’s approach to leveraging Solana’s infrastructure while enhancing its capabilities offers a promising solution for developers and users alike. While the project remains in its early stages, its focus on improving transaction efficiency and network performance positions it as an interesting addition to the Solana ecosystem .