BlackRock Shakes Up Crypto Markets with Swiss Bitcoin ETP Launch on SIX Exchange
Wall Street's trillion-dollar gorilla just stormed into crypto's boutique shop.
BlackRock—the world's largest asset manager—has flipped the 'on' switch for its Bitcoin ETP on Switzerland's SIX Exchange. No more waiting for SEC approval stateside when Zurich's doors swing wide open.
Why this matters
Institutional investors now get a regulated, liquid Bitcoin product from a name their compliance departments recognize. The same firm that manages $10 trillion in assets just legitimized crypto exposure for pension funds and endowments still clutching their pearls.
The Swiss connection
SIX Exchange isn't some crypto backwater—it's Europe's third-largest stock exchange. This isn't a speculative altcoin plaything; it's Bitcoin exposure wrapped in Switzerland's regulatory gold standard.
Bonus jab: Nothing gets traditional finance moving like the smell of fresh fees in the morning.
Delayed launch in Switzerland
The ETP was issued by a special purpose vehicle based in Switzerland and has been listed since March on Xetra, Euronext Paris, and Euronext Amsterdam. Now, the bitcoin product is also tradable on SIX. According to Dirk Klee, CEO of BlackRock Switzerland, the Swiss team played a crucial role in developing the new financial product. Finews quoted the country head as follows:
“There is a lot of Switzerland in the iShares Bitcoin ETP. We at BlackRock Switzerland were significantly involved in its development. [...] We are convinced that ETPs can play an important role in building a bridge between crypto and the traditional financial world – thanks to efficiency and user-friendliness.” – Dirk Klee, CEO BlackRock Switzerland
Digital assets flood the SIX
In the first seven months of this year, the 194 crypto ETPs listed on SIX Swiss Exchange generated a trading turnover of CHF 2.3 billion across 116,000 transactions. This represents an increase of 44.5% compared to the same period last year. Of the total 194 ETPs with crypto asset underlyings, Bitcoin has led trading volume since the start of the year with a 36.1% share, followed by solana with 23.0%. The introduction of the new ETP reflects growing investor interest in crypto products, according to a SIX press release.
“We are pleased to welcome iShares as a new issuer on SIX Swiss Exchange with its first crypto ETP. The launch of the iShares Bitcoin ETP underscores our commitment to expanding the range of digital asset products for investors. By providing a stable and efficient trading environment, we continue to make digital assets more accessible and transparent for the Swiss financial market and its investors. The entry of iShares further strengthens our position as a leading hub for innovative investment solutions.” – Danielle Reischuk, Senior ETFs & ETPs Sales Manager at SIX Swiss Exchange
