BlackRock, the world’s largest asset manager, is anticipated to list its iShares Bitcoin Exchange-Traded Product (ETP) on the London Stock Exchange.
As previously reported, the initial public offering (IPO) is scheduled for on or after October 8. This is a part of BlackRock’s wider strategy to provide regulated exposure to Bitcoin. The company has had huge demand for its iShares Bitcoin Trust in the US and is seeking to repeat that success in the UK market.
Alongside BlackRock, firms such as Bitwise, WisdomTree, and 21Shares already offer Bitcoin ETNs on the London Stock Exchange, but these are currently restricted to qualified investors.
Impact of the FCA’s decision
This happened after the UK’s Financial Conduct Authority (FCA) removed its longstanding prohibition on retail access to crypto exchange-traded products.
Retail investors were not allowed to purchase crypto ETPs since 2021, following worries about excessive volatility and resulting losses. British investors were, for many years, subject to limitations that denied them access to crypto ETPs compared to the US and parts of Europe.
The move follows increased regulatory assurance in structured crypto investment products and comes as part of the UK’s broader agenda to promote innovation in financial markets. Retail investors in the UK can now access regulated exposure to Bitcoin without directly buying the cryptocurrency.
Additionally, the FCA has put London at the forefront of both traditional and digital finance, urging asset managers to introduce regulated crypto products to UK investors. The action can also encourage other companies to bring similar products to market, providing more choices for retail investors.
This evolution complements the UK government’s goal of promoting financial innovation following Brexit, bridging mainstream finance with digital assets and blockchain technology.
Also Read: Grayscale Becomes First U.S. ETP to Offer Ethereum, Solana Staking
