BlackRock Inc (NYSE: BLK )., the global leader in asset management, is planning to introduce a new exchange-traded product (ETP) in Europe that is directly linked to Bitcoin , Bloomberg News reported on Wednesday. This move comes after the successful launch of its $58 billion cryptocurrency-tracking ETF in the United States.

The upcoming Bitcoin-related fund is expected to be based in Switzerland, as per sources close to the matter who wished to remain anonymous due to lack of authorization to speak publicly. It has been suggested that the marketing for this new product could commence as early as this month.

When reached for a comment, a representative from BlackRock chose not to discuss the matter.