FCA Clears BlackRock for Crypto Asset Services in the UK

• BlackRock joins the UK cryptocurrency market with official FCA registration.
• The iShares Bitcoin ETP is already trading in Paris and Amsterdam with fee discounts
• London may become a global digital asset hub as large firms enter its market. 

Global asset manager BlackRock has officially received registration from the UK’s Financial Conduct Authority (FCA) as a crypto asset firm. The company, which oversees approximately $12 trillion in assets, will now operate its new European Bitcoin exchange-traded product (ETP) through a UK-based entity. This approval, which appeared on the FCA’s website on April 1, marks BlackRock as the 51st entity listed under the regulator’s crypto asset register.

Consequently, this milestone allows BlackRock to bring its iShares Bitcoin ETP to the UK market following its recent European rollout. The product, already active on the Euronext exchanges in Amsterdam and Paris, has made plans to provide broader digital asset access to both institutional and retail participants. With only a few companies like Coinbase, PayPal, and Revolut meeting the FCA’s demanding criteria, BlackRock’s approval underscores a notable shift in the UK’s crypto regulatory landscape.

Institutional Entry Strengthens UK’s Crypto Framework

BlackRock’s registration under FCA reference number 178638 represents a key endorsement of the UK’s digital asset framework. As the asset manager gains the green light to proceed with its ETP plans, the move signals increasing alignment between traditional finance and the evolving digital asset space.

The company’s entry into the UK crypto sphere follows its landmark success in the United States, where its iShares Bitcoin Trust, launched in January 2024, rapidly amassed over $47 billion in assets. The ETF has since been recognized as the largest spot BTC product in the U.S. market.

Additionally, experts have noted the significance of this registration in shaping future market dynamics. With Europe closely observing London’s regulatory posture, this could position the UK as a pivotal destination for compliant crypto product issuers.

A Tipping Point For Market Participation

BlackRock’s recent rollout of the iShares Bitcoin ETP in Europe began with a competitive fee structure, initially offering a 0.15% expense ratio until year-end. The product went live across Amsterdam and Paris exchanges last week.

Manuela Sperandeo, head of Europe & Middle East iShares Product at BlackRock, described this moment as a potential tipping point. “It reflects what really could be seen as a tipping point in the industry — the combination of established demand from retail investors with more professionals now really getting into the fold,” she stated.

With both institutional and retail interest converging, the launch represents more than just market expansion. It could also prompt broader adoption among regulated entities seeking similar pathways.  

Related: BlackRock Launches First Bitcoin ETP in European Market

Will BlackRock’s FCA Registration Set A New Regulatory Standard?

The FCA’s registration of BlackRock could shape new benchmarks for crypto oversight across the region. Besides offering Bitcoin exposure through a trusted financial name, the firm’s participation may encourage other global players to engage with UK regulators.

Moreover, the development underscores a regulatory momentum favoring clarity, transparency, and alignment with broader financial markets. As the UK attempts to strengthen its status as a digital asset hub, this approval signals increasing institutional trust and growing acceptance of cryptocurrencies in regulated environments.

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