Breaking: $10T BlackRock Launches Bitcoin ETP in London As UK FCA Eases Crypto Ban

In a fresh development, BlackRock has officially launched its first Bitcoin ETP on the London Stock Exchange. The development follows the Financial Conduct Authority’s (FCA) decision to lift a four-year ban on crypto-based exchange-traded products.

BlackRock Launches iShares Bitcoin ETP on LSE

According to the Financial Times, BlackRock’s iShares Bitcoin ETP (IB1T) began trading on Monday on the London Stock Exchange. This gives investors a secure and regulated way to gain exposure to Bitcoin without holding the cryptocurrency directly.

This marks BlackRock’s first BTC product listing in the UK, expanding its European presence after similar Bitcoin ETP launches in Germany, France, and the Netherlands earlier this year.

Jane Sloan, Head of Global Product Solutions for EMEA at BlackRock, highlighted the product’s significance for retail investors:

“With the UK’s crypto investor base expected to reach nearly four million next year, this listing provides a safer and more transparent entry point into digital assets through conventional investment channels.”

Within its first hour of trading, the iShares product recorded over 1,000 shares traded. The launch comes just days after the FCA officially ended its four-year prohibition on retail access to crypto exchange-traded notes (ETNs). 

Mark Aruliah, Head of Policy at Elliptic, praised the shift:

“Allowing UK investors to access crypto through regulated exchanges helps keep activity within safe boundaries, rather than pushing consumers offshore to unregulated platforms. But the UK must now maintain momentum to stay competitive globally.”

Globally, BlackRock continues to dominate the institutional crypto landscape. Its flagship iShares Bitcoin Trust (IBIT) in the U.S. has amassed over $85.5 billion in assets.

21Shares, Bitwise, and WisdomTree Join the Race

Following BlackRock’s lead, other asset managers have also launched or expanded their offerings in London. 21Shares introduced four physically backed crypto ETPs, including ABTC, CBTC, and AETH. They also included a new 0.10% fee structure designed to make regulated digital asset exposure more affordable. 

CEO Russell Barlow called the development “a milestone moment for UK retail investors,” emphasizing that access to Bitcoin and Ethereum ETPs is “just the beginning of a broader framework for innovation.”

They had previously launched Bitcoin ETPs in other European countries earlier in the year.

Similarly, Bitwise listed its Core Bitcoin ETP (BTC1) on the LSE’s retail segment, slashing fees to 0.05%. Also, WisdomTree unveiled its own physically backed Bitcoin and Ethereum products with costs ranging from 0.15% to 0.35%.

WisdomTree’s Head of Europe, Alexis Marinof, said the listings “reflect how far the market has matured, offering investors the transparency and safeguards that traditional markets provide.”

Following the FCA’s policy reversal, the UK is also deepening crypto cooperation with the US, focusing on joint frameworks for stablecoins and digital asset oversight.