The world's largest asset manager is set to expand its Bitcoin footprint internationally with a new exchange-traded product in Switzerland.

BlackRock Inc., the world’s largest asset manager, is preparing to list an exchange-traded product tied directly to Bitcoin in Europe, following on from the success of its $58 billion US ETF tracking the cryptocurrency.

BlackRock, the world’s biggest asset manager with over $9.5 trillion under its belt, is preparing to launch a Bitcoin exchange-traded product (ETP) in Switzerland, according to a Bloomberg report. This will be BlackRock’s first major crypto move outside North America.

BlackRock is gearing up to launch a bitcoin exchange-traded product in Europe within weeks, a source familiar with the matter told Reuters, amid growing demand for exposure to cryptocurrencies from both money managers and consumers.