BlackRock Gains Approval to Become Crypto Asset Firm in The UK

BlackRock, the global investment management giant overseeing approximately $12 trillion in assets, has received approval from the United Kingdom’s (UK) financial markets regulator, the Financial Conduct Authority (FCA), to operate as a registered crypto asset firm. This pivotal decision allows BlackRock to manage its innovative European Bitcoin exchange-traded product (ETP) as a fully compliant UK entity.

BlackRock Gains FCA Approval

The latest development occurred following the triumphant launch of BlackRock’s spot Bitcoin exchange-traded fund in the United States in January 2024. The iShares Bitcoin ETF, based in the US, quickly became the largest of its kind, amassing a portfolio exceeding $47 billion in assets.

Furthermore, this ETF and other US spot Bitcoin ETFs collectively gained over $107 billion within their first year of trading, highlighting the growing institutional and retail interest in cryptocurrency investments.

According to the FCA’s website, BlackRock is the 51st crypto asset firm registered with the FCA as of April 1. The list includes major companies like Coinbase, PayPal, and Revolut, strengthening BlackRock’s place in the changing digital finance world.

Notably, critics have pointed out that the FCA’s strict rules are evident in its approval of only about 14% of companies applying for registration. The FCA explains on its website that it has rejected applications that were missing important information or of poor quality. 

Nonetheless, the iShares Bitcoin ETP, already available on the Euronext stock markets in Paris and Amsterdam, is essential in making Bitcoin investments more accessible to European investors. It started with a fee waiver of 0.10% and now has a very competitive fee of 0.15% until the end of the year.

Bitcoin ETF Expansion to Europe

On March 25, 2025, BlackRock announced that it was launching a Bitcoin investment product in Europe. This is their first investment product connected to crypto outside of North America. It shows that they are more interested in digital assets and want to give European investors more ways to invest.

Moreover, this launch comes as more Bitcoin investment products become available in Europe. Similar products have recently started in Europe, showing that the area is paying more attention to cryptocurrency investing.

The iShares Bitcoin investment product will start trading on Tuesday on major European exchanges, including Xetra and Euronext Paris, under the code IB1T and Euronext Amsterdam under BTCN.

These listings give European institutions and individual investors more access to Bitcoin. Like the product in the US, this European Bitcoin investment product lets people invest in Bitcoin without directly owning it.