According to a Bloomberg report on Wednesday, BlackRock, the world’s largest asset manager, is planning to list an Exchange Traded Product (ETP) based on Bitcoin in Switzerland.

This would be BlackRock’s first such investment vehicle for a cryptocurrency outside the United States. However, a look at the ETP Explorer shows that the SIX Swiss Exchange already lists a number of ETPs on Bitcoin and other cryptocurrencies or crypto assets. When asked for a statement, the Swiss stock exchange said that, as a matter of principle, it does not comment on listing intentions of issuers.

A Positive Signal for Switzerland as a Crypto Hub

In January 2024, BlackRock launched a Bitcoin Exchange Traded Fund (ETF) in the U.S., which has since grown to nearly $60 billion in assets.

The fact that the U.S. asset manager has apparently chosen Switzerland as the domicile for its first such crypto product outside its home market is certainly a positive signal—both for the local crypto industry and for the Swiss financial center as a whole.