BlackRock has launched its first regulated Bitcoin-linked ETP on the London Stock Exchange, following the FCA’s relaxed stance on crypto products, opening new opportunities for retail investors in the UK market.
BlackRock has launched its first Bitcoin-linked Exchange-Traded Product (ETP) on the London Stock Exchange, marking a pivotal moment for UK retail investors seeking regulated exposure to cryptocurrency. This move follows the United Kingdom’s Financial Conduct Authority (FCA) decision to ease restrictions on crypto-related investment products, specifically lifting a four-year ban on crypto exchange-traded notes (ETNs). The revised regulatory framework now permits these products to be traded on FCA-approved exchanges, thereby opening the door for wider retail participation in the crypto market through conventional investment platforms.
The iShares Bitcoin ETP is designed to track the price of Bitcoin, allowing investors to gain exposure without the need to directly hold or trade the digital asset on cryptocurrency exchanges. Units of the ETP are priced around $11 and offer the ability to purchase fractional shares, making Bitcoin investment more accessible, especially for retail investors who may be unfamiliar with the complexities of direct cryptocurrency trading. This listing places the product under regulated oversight with the underlying assets securely held by regulated custodians, enhancing investor confidence compared to unregulated crypto holdings.
BlackRock’s launch in the UK aligns with its broader strategy seen in continental Europe and the United States. Earlier in 2025, BlackRock introduced the iShares Bitcoin ETP on major European exchanges including Xetra in Germany, Euronext Paris, and Euronext Amsterdam. With custodianship by Coinbase and administrative oversight from the Bank of New York Mellon, the European offering underscored BlackRock’s commitment to providing secure, regulated crypto investment options. Furthermore, the company temporarily reduced fees to attract investors, offering a cost-effective entry point during the product’s initial phase.
The FCA’s regulatory adjustments are a significant factor enabling BlackRock’s UK offering. Historically, the FCA had banned retail investors from accessing crypto ETNs due to concerns about market volatility and investor protection. However, the regulator acknowledged the market’s maturity and increased mainstream adoption, prompting a reevaluation of its prior stance. David Geale, FCA’s executive director of payments and digital finance, highlighted that crypto products are now better understood and more mainstream, necessitating a balanced approach that allows investor choice while maintaining stringent promotion rules to ensure consumer protection. Despite easing access for ETNs, the FCA has retained restrictions on high-risk crypto derivatives for retail investors, reflecting its cautious approach to riskier crypto investment categories.
BlackRock’s role in the crypto investment landscape remains significant, with its U.S.-listed Bitcoin ETF managing assets exceeding $85 billion, which testifies to the growing institutional acceptance of crypto assets. By extending its crypto-linked product offerings to the UK, BlackRock is strategically positioning itself to meet rising demand for regulated and accessible Bitcoin investment vehicles, particularly from retail investors looking for familiar trading environments. This launch is occurring alongside other industry entrants such as 21Shares, which has introduced a range of crypto ETNs to the UK market.
The broader UK financial sector is also exploring blockchain technology applications, including the potential tokenisation of traditional assets, reflecting the country’s effort to balance innovation with investor safety. As regulatory frameworks evolve, the FCA continues to monitor market developments and is open to further adjustments that support both innovation and consumer safeguards.
In summary, BlackRock’s debut of the iShares Bitcoin ETP on the London Stock Exchange represents a landmark regulatory and market development in the UK’s crypto investment space. Enabled by the FCA’s updated stance on crypto products, this move affords retail investors regulated, secure access to Bitcoin exposure without direct ownership of the cryptocurrency. It signals growing mainstream acceptance of digital assets within traditional investment portfolios and reflects BlackRock’s expanding role as a leading provider of regulated crypto investment solutions globally.
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Source: Noah Wire Services
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The narrative is recent, with the article published on October 21, 2025. The Financial Conduct Authority (FCA) lifted the ban on crypto exchange-traded notes (ETNs) for retail investors on June 6, 2025 ([fca.org.uk](https://www.fca.org.uk/news/press-releases/fca-lift-ban-crypto-exchange-traded-notes?utm_source=openai)), and opened retail access to crypto ETNs on August 1, 2025 ([fca.org.uk](https://www.fca.org.uk/news/press-releases/fca-opens-retail-access-crypto-etns?utm_source=openai)). BlackRock launched its first Bitcoin ETP in Europe on March 25, 2025 ([reuters.com](https://www.reuters.com/technology/blackrock-launches-first-bitcoin-product-europe-2025-03-25/?utm_source=openai)). The article references these events, indicating it is not recycled content. The presence of a press release from the FCA suggests the narrative is based on official information, which typically warrants a high freshness score. No discrepancies in figures, dates, or quotes were identified. The article includes updated data and recent developments, justifying a higher freshness score. No similar content was found published more than 7 days earlier.
Quotes check
Score:
9
Notes:
The article includes direct quotes from David Geale, FCA’s executive director of payments and digital finance. The earliest known usage of these quotes is from the FCA’s press release dated June 6, 2025 ([fca.org.uk](https://www.fca.org.uk/news/press-releases/fca-lift-ban-crypto-exchange-traded-notes?utm_source=openai)). The quotes are identical to those in the press release, indicating they are reused content. No variations in wording were found. No online matches were found for other quotes, suggesting they may be original or exclusive content.
Source reliability
Score:
7
Notes:
The narrative originates from CoinCentral, a cryptocurrency-focused news outlet. While it is a known platform within the crypto community, it is not as widely recognised as major news organisations like the Financial Times, Reuters, or the BBC. The FCA’s press releases are cited, which are reputable sources. However, the reliance on a single outlet for the primary narrative introduces some uncertainty regarding the overall reliability.
Plausability check
Score:
8
Notes:
The narrative aligns with recent developments in the UK crypto market, including the FCA lifting the ban on crypto ETNs and BlackRock’s launch of its Bitcoin ETP in Europe. The claims are plausible and supported by reputable sources. The language and tone are consistent with typical financial reporting. No excessive or off-topic details are present. The structure and tone are appropriate for the subject matter.
Overall assessment
Verdict (FAIL, OPEN, PASS): PASS
Confidence (LOW, MEDIUM, HIGH): HIGH
Summary:
The narrative is recent and based on official information, with no discrepancies identified. While some quotes are reused from the FCA’s press release, other quotes may be original. The source is a known crypto-focused outlet, and the claims are plausible and supported by reputable sources. The language and tone are appropriate for the subject matter. Therefore, the overall assessment is a PASS with high confidence.
