BlackRock is set to introduce its first Bitcoin-linked exchange-traded product (ETP) in Europe as soon as February 2025, with expectations that it will be based in Switzerland. This initiative follows the success of its US-based iShares Bitcoin Trust (IBIT), which has reached approximately $58 billion in assets under management. As the world’s largest asset manager, BlackRock, which oversees around $4.4 trillion, aims to bring credibility to the European market and stimulate investor interest.

Additionally, recent SEC filings show that BlackRock has increased its ownership of Strategy, previously known as MicroStrategy, to 5%. As of February 6, 2025, this marks an increase in holdings to approximately 11.2 million shares from 4.09% back in September 2024. Following this announcement, shares of Strategy surged by 2.8% in pre-market trading, hitting $331.90 per share.

JUST IN: 🇺🇸 BlackRock increases its ownership of Strategy $MSTR to 5% – SEC Findings February 7, 2025

WEF 2025: BlackRock CEO Predicts BTC Could Reach Up to $700,000

In a video interview during the World Economic Forum (WEF) 2025 held in Davos from January 20-24, Larry Fink commented on the potential for Bitcoin. He stated that for those concerned about currency devaluation or instability in their country, an international asset like Bitcoin can provide a hedge against local fears. He further expressed belief in Bitcoin’s utility as a financial instrument, suggesting that a broad allocation of portfolios towards crypto could lead to significant price increases for Bitcoin.

“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…” - Larry Fink

This article serves as a valuable update for the market trends surrounding cryptocurrency, especially regarding BlackRock’s impactful movements in this space.