BlackRock debuts its Bitcoin ETP on the London Stock Exchange following regulatory approval.
- BlackRock launches Bitcoin ETP on LSE post FCA approval.
- ETP enhances UK retail access to Bitcoin.
- Potential growth in UK crypto investment predicted.
BlackRock has launched its iShares Bitcoin ETP on the London Stock Exchange following the UK FCA’s lift of a retail investment ban, on October 2023.
This approval signals a pivotal shift towards mainstream cryptocurrency investment in the UK, opening pathways for regulated Bitcoin trading, and potentially increasing retail and institutional participation.
BlackRock launched its Bitcoin ETP, named iShares IB1T, on the London Stock Exchange following FCA’s retail ban relaxation.
This event signifies increased UK crypto investment accessibility, possibly boosting market participation and adoption.
FCA’s Approval Clears Path for BlackRock Bitcoin ETP
BlackRock’s iShares Bitcoin ETP is now available on the London Stock Exchange. The launch follows the FCA’s decision to relax a retail investment ban in the UK.
The ETP is physically-backed by Bitcoin, providing a regulated gateway for UK investors. Coinbase serves as the custodian, ensuring secure storage solutions for the assets.
21% Growth in UK Crypto Investors Expected
The launch enables wider mainstream access to Bitcoin for UK retail investors, potentially increasing market engagement. The FCA cites increased market maturity as a reason for the regulatory change.
The financial community anticipates a 21% rise in new UK crypto investors, as stated by BlackRock’s internal research, highlighting growing interest and market participation.
BlackRock’s ETP History Suggests Positive Market Impact
BlackRock’s past launches, like its US iShares Bitcoin Trust, showed significant market influence with over $85 billion in assets under management. These regulated products historically impact Bitcoin’s market dynamics.
Future predictions indicate that similar UK ETPs may result in increased retail and institutional participation, stimulating potential growth in the crypto market as seen with previous products. Jane Sloan, EMEA Head of Global Product Solutions, BlackRock, said: “The iShares Bitcoin ETP leverages years of integration between Coinbase and BlackRock, providing UK investors with a secure gateway to digital assets through traditional trading platforms.” Source
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