BlackRock, the $10 trillion asset management giant, just got the FCA’s approval to operate as a crypto asset firm in the UK. This puts it in the same league as Coinbase, PayPal, and Revolut in the country’s regulated crypto market.
Now that it’s registered, BlackRock can run its European Bitcoin exchange-traded product (ETP) under a UK entity, further expanding into crypto. But the FCA isn’t making things simple—it’s been tightening regulations and turning away firms that don’t meet its strict standards.
BlackRock, however, made the cut. BlackRock’s successful registration highlights its commitment to following regulations and meeting the authority’s high standards.
The approval comes just days after BlackRock’s iShares Bitcoin ETP was listed on the Euronext stock markets in Paris and Amsterdam. It launched with a temporary fee waiver of 10 basis points, bringing its expense ratio down to 0.15% until the end of the year. The move is designed to attract both retail and institutional investors looking for a more regulated way to invest in Bitcoin.
Manuela Sperandeo, BlackRock’s head of Europe & Middle East iShares Product, sees this as a major shift for the industry. “It reflects what could be seen as a tipping point—retail demand is strong, and now professionals are getting involved,” she said.
With BlackRock now officially registered with the FCA under reference number 178638, experts say this could push more big investors toward crypto. With Europe paying close attention, London has a real chance to become a major hub for digital assets. Neither BlackRock nor the FCA have commented on the registration, but this approval is another sign that cryptocurrency is gaining ground in mainstream finance.
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