**BlackRock’s iShares Bitcoin ETP Now Available to UK Retail Investors on London Stock Exchange**
BlackRock has launched its first Bitcoin exchange-traded product (ETP) for UK retail investors, opening institutional-grade crypto access to Britain’s retail market amid volatile trading conditions. The iShares Bitcoin ETP began trading on the London Stock Exchange on Monday and is backed by Bitcoin held through Coinbase custody, according to a Financial Times report.
Jane Sloan, BlackRock’s EMEA head of global product, told the FT, “As the UK crypto investor base is projected to approach 4 million over the next year, today’s listing of exchange-traded products like iShares Bitcoin ETP unlocks a securer gateway to digital assets through traditional investment platforms.” She added, “Built on institutional-grade infrastructure, [the product] enables UK investors to gain exposure to Bitcoin with the confidence of robust custody and regulatory oversight.”
The product features institutional-grade security protocols, with Coinbase transferring Bitcoin from trading wallets into segregated, offline cold storage by the end of each day, ensuring high-level asset protection.
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**Success of BlackRock’s U.S. Bitcoin ETF and Expansion Plans**
This UK launch follows the runaway success of BlackRock’s U.S. spot Bitcoin ETF, which became the firm’s most profitable fund just 21 months after its launch. The ETF currently manages over $87.5 billion in assets. Although it was on track to hit the $100 billion milestone and become the youngest ETF ever to do so, last week’s market crash delayed this progress.
Fabian Dori, Chief Investment Officer at Sygnum, told Decrypt, “The launch signals the advancing institutional acceptance of Bitcoin as an investable asset class by both major regulators and global asset managers.” He further noted that the UK launch could pave the way for broader crypto product offerings.
“In the U.S., additional exchange-traded products beyond Bitcoin and Ethereum, as well as the first diversified crypto baskets, are progressing through preparatory stages,” Dori explained. He also highlighted that various traditional asset managers, including BlackRock, are increasing their digital asset footprints by incorporating tokenized securities.
Regarding regulatory developments, Dori expects the UK’s Financial Conduct Authority to “proceed deliberately” by closely monitoring market conduct and retail investor outcomes before expanding issuer participation or considering additional crypto assets. This cautious approach would align the UK’s regulatory framework with that of other major financial centers.
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**Larry Fink’s Changing Stance on Bitcoin**
The launch also reflects a significant shift in BlackRock CEO Larry Fink’s outlook on Bitcoin. In 2017, Fink described Bitcoin as “an index of money laundering.” However, in a recent interview with CBS, he acknowledged that “the markets teach you, you always have to relook at your assumptions,” and stated, “There is a role for crypto in the same way there is a role for gold, that is, it’s an alternative.”
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**Market Conditions and Industry Challenges**
Despite the positive momentum, market conditions remain choppy. Digital asset investment products experienced $513 million in outflows last week following a liquidity cascade triggered by Binance on October 10. This event led to nearly $20 billion in liquidations, including roughly $16.7 billion in long positions, according to a CoinShares report.
BlackRock’s UK expansion comes amid broader concerns about regulatory fragmentation across the crypto sector. As the industry continues to evolve, the company’s move to offer a secure and regulated Bitcoin ETP in the UK marks a key step towards mainstream adoption of digital assets.
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*Stay tuned for further updates on BlackRock’s crypto products and developments in the rapidly evolving digital asset landscape.*
https://decrypt.co/344965/blackrock-launches-bitcoin-etp-for-uk-retail-investors