BlackRock Launches First Bitcoin ETP on London Stock Exchange After FCA Ban Lift

BlackRock (BLK), the world’s largest asset manager, has launched its first bitcoin exchange-traded product (ETP) in the United Kingdom, marking a major milestone for crypto investment in traditional markets. The iShares Bitcoin ETP (IB1T) began trading on the London Stock Exchange (LSE) on Monday, following the Financial Conduct Authority’s (FCA) decision to lift its long-standing ban on certain bitcoin-based ETPs.

The new product allows retail investors to gain regulated exposure to bitcoin (BTC), priced at around $110,984.37, without needing to directly hold the cryptocurrency. The IB1T ETP is already listed on several major European exchanges, including Xetra, Euronext Amsterdam, and Euronext Paris, where it debuted earlier this year in March.

BlackRock’s expansion into the U.K. crypto market highlights the growing acceptance of digital assets among institutional and retail investors. The asset manager, overseeing over $13 trillion globally, continues to lead the charge in regulated bitcoin investment options. Its U.S.-listed iShares Bitcoin Trust (IBIT) currently holds $85.5 billion in net assets, making it the world’s largest spot bitcoin ETF. Fidelity’s FBTC follows with $21.9 billion in assets, according to SoSoValue data.

Meanwhile, Swiss-based 21Shares also entered the U.K. market, introducing four of its flagship crypto exchange-traded notes (ETNs) for retail investors. These include bitcoin (ABTC) and ether (AETH) staking products, along with two low-fee options—CBTC and ETHC—featuring management fees of just 0.10%.

Russel Barlow, CEO of 21Shares, hailed the FCA’s policy shift as “a landmark step for the U.K. market,” emphasizing that it finally gives everyday investors access to regulated crypto investment vehicles.

In its first hour of trading, the IB1T ETP recorded a volume of 1,000 shares, signaling strong early interest from investors eager to tap into bitcoin’s growing mainstream appeal.