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Following the successful launch of its iShares Bitcoin ETP across Europe, BlackRock has just been approved by the UK Financial Conduct Authority (FCA) as a registered crypto asset firm.
The FCA is known in the UK for being extremely harsh and unfair to crypto firms or those wishing to start one, so BlackRock’s approval by the regulator is a huge win.
(Source)
BlackRock FCA Approval Will Give Hope To British-Based Crypto Firms
With the approval, the world’s largest asset manager, with around $12 trillion of assets under management (AUM), can operate its new European Bitcoin exchange-traded product as a UK entity.
The UK and the FCA, in particular, have been accused of driving blockchain and digital asset innovation away from the island with their strict and often harsh crypto regulations.
UK-based crypto firms have mostly given up trying to operate on home soil and fled to more crypto-friendly jurisdictions such as Dubai and Malta.
However, BlackRock being given the green light to operate as a UK entity may give smaller crypto firms hope that the FCA will take a fairer approach to firms.
The UK needs to allow blockchain innovation to flourish so that it does not fall behind those nations embracing the technology, such as the US, Dubai, Malta, and Singapore.
BlackRock Are On A Mission To Gain Global Dominance With Its Bitcoin ETFs
JUST IN: BlackRock's Global Allocation Fund discloses $47.4 million in Bitcoin ETF holdings.
— Watcher.Guru (@WatcherGuru) March 27, 2025
The launch of its new iShares Bitcoin ETP comes after BlackRock debuted its spot Bitcoin ETF in the US in January 2024. It has since become the largest US ETF with over $47 billion in AUM.
Spot Bitcoin ETFs in the US have amassed over $107 billion during their first year of trading, marking a huge success for Bitcoin in the institutional sector.
According to the FCA website, BlackRock became the 51st company to be registered as a crypto asset firm with the regulator, which was confirmed on April 1.
It joins a list of behemoths that includes Coinbase, PayPal, and Revolut. The agency has received much criticism in the past for only approving around 14% of all firms that have applied to be registered.
“We have rejected submissions that didn’t include key components necessary for us to carry out an assessment, or the poor quality of key components meant the submission was invalid,” the FCA says on its website.
iShares Bitcoin ETP Already Live Across Europe
BlackRock listed #Bitcoin ETF in Europe today!
iShares Bitcoin ETP
ticker: IB1T GY (Germany Xetra) and IB1T FP (Euronext)fees: 0.25% waived to 0.15% until Dec 31, 2025
Domicile: Switzerland
ISIN: XS2940466316Link to DES page on the Bloomberg Terminal:… pic.twitter.com/UE1tJYqjcQ
— ETF Hearsay by Henry Jim (@ETFhearsay) March 25, 2025
The iShares Bitcoin ETP was listed on the Euronext stock markets in Paris and Amsterdam at the end of March. Similar to the launch of its US Spot Bitcoin ETFs, it launched with a fee waiver of 10 basis points.
This reduces its expense ratio to 0.15% until the end of the year. This is done to entice investors to choose the product with the low fees on offer.
That will make it one of the more cost-effective products on the market until the waiver ends and it reverts to 0.25%, putting it back level with rival products from the likes of CoinShares.
Manuela Sperandeo, BlackRock’s head of Europe & Middle East iShares Product, said this on the iShares Bitcoin ETP: “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.”
BONUS: BTC Bull (BTCBULL) Presale Hits $4.3m As Its Upcoming Bitcoin Airdrops Seem Closer Than Ever
With over $4.3m in presale funding secured for BTC Bull (BTCBULL), the cat is well and truly out of the bag regarding its upcoming Bitcoin airdrops.
Not only is it a top-tier meme coin project, but the team behind BTCBULL has added the best utility possible: native Bitcoin airdrops.
Once Bitcoin hits key price milestones, the team will airdrop BTC to BTCBULL holders, with the amount of BTC dropped weighted against how much BTCBULL you hold.
The airdrops will start when Bitcoin hits $150,000, then after every $50,000 increment, all the way up to the golden target of 1 million United States Dollars per BTC.
Additionally, BTC Bull has a token-burning mechanism. Once BTC reaches $125,000, a portion of the BTCBULL supply will be removed from circulation. This will continue at every $50,000 price increase, meaning that after every airdrop, a token burn will follow.
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BlackRock receive approval from the UK financial regulator to operate as a UK entity
- This approval means BlackRock join a small handful of firms with approval to operate in the UK
- The FCA are known to be harsh on crypto firms but many will hope BlackRocks approval could pave the way for smaller firms
- BlackRock just last week launched its iShares Bitcoin ETP across Europe, with the UK likely next
- The BTCBULL presale hits $4.3m in funding with Bitcoin airdrops to holders starting once BTC hits $150,000
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