Market News

UK Retail Investors Gain Access to Bitcoin with BlackRock's New ETP Launch

BlackRock has made headlines by launching its first Bitcoin exchange-traded product (ETP) for retail investors in the UK.

The iShares Bitcoin ETP began trading on the London Stock Exchange, enabling access to Bitcoin through a regulated platform.

This product is backed by Bitcoin held with Coinbase, a feature that enhances trust and security for investors.

Jane Sloan, BlackRock's EMEA head of global product, highlighted that the UK crypto investor base is expected to grow to 4 million by next year.

With robust custody and regulatory oversight, this ETP represents a major step towards institutional acceptance of Bitcoin in the UK.

The launch follows the success of BlackRock's U.S. spot Bitcoin ETF, which has quickly amassed over $87.5 billion in assets.

This move aligns with the UK’s recent shift in regulatory policy, with the Financial Conduct Authority (FCA) lifting the ban on crypto ETPs.

As more firms, like 21Shares and WisdomTree, introduce competitive products, the market for retail crypto investment is set to expand.

However, the FCA's cautious stance still prevents access to broader crypto derivatives for retail consumers.

Overall, BlackRock's launch marks a significant development in the UK's evolving crypto landscape, paving the way for increased public engagement with digital assets.