- BlackRock secures FCA approval, becoming the 51st firm authorized to provide crypto asset services in the UK.
- The firm’s FCA registration strengthens its position in the global digital asset space.
- BlackRock’s FCA registration may boost institutional crypto adoption as the UK tightens digital asset regulations.
BlackRock has been registered with the UK’s Financial Conduct Authority (FCA) as a crypto asset firm. This approval in 2025 enables the company to provide digital asset services in its newly chosen country of operation.
Consequently, BlackRock has become the 51st firm to receive the FCA’s approval to trade cryptocurrencies in the United Kingdom. The approval process involved having to meet with the regulatory standards set by FCA to ensure that financial firms are compliant with the laws for the financial sector in the UK. This will help BlackRock to provide clients with services and solutions relating to cryptocurrency for institutional and sophisticated individual investors.
Expansion of iShares Bitcoin ETP in Europe
This comes shortly after the global investment firm BlackRock, announced the settlement of its iShares Bitcoin Exchange-Traded Product (ETP) in Europe. The Bitcoin ETP is traded in the stock markets under Euronext in Paris and Amsterdam, enabling investors to invest directly in Bitcoin. It begins with a fee of 10bps, which reduces its expense rate to 0.15% for the year-end. After this period, the fee will revert back to 0.25%, which is standard for similar products in the market.
BlackRock’s entry into the crypto markets was eagerly anticipated particularly after its spot Bitcoin ETF was approved in the United States. The fund started in January 2024, thereby becoming the largest US Bitcoin ETF with more than $47 billion in assets. The latest approval in the United Kingdom might also solidify BlackRock’s standing in the global digital asset space.
Implications for the Crypto Industry
Prominent analysts have voiced their opinion that BlackRock’s registration could have bearing on the wider industry when making its decisions on its cryptocurrency investments. The company aligns itself with other financial firms, including Coinbase, PayPal, and Revolut largely completing the list recognized by the FCA in the crypto sphere.
As the UK seeks to regulate digital assets, more institutional players may be drawn in by this move. It does not contain further statements from BlackRock or the FCA on the approval. However, registration on the FCA’s official website proves that BlackRock International complies with the requirements of the UK legislation governing the activities of crypto companies.
