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BlackRock Launches Bitcoin ETP in the UK

BlackRock Launches Bitcoin ETP in the UK

According to the Financial Conduct Authority, the easing of crypto product restrictions enables BlackRock’s iShares Bitcoin ETP launch on the London Stock Exchange, offering secure retail access through Coinbase-backed custody.

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Fact Check
The statement is confirmed by a recent news report (Source 10, Money Marketing) which explicitly states, 'BlackRock has listed its iShares Bitcoin ETP on the London Stock Exchange'. While several other provided sources from earlier dates discuss future plans or preparations for a UK/European launch, Source 10 is the most current piece of evidence and directly reports that the launch has happened.
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Summary

BlackRock has launched its iShares Bitcoin Exchange-Traded Product (ETP), ticker IB1T, on the London Stock Exchange following the UK Financial Conduct Authority’s decision to lift its ban on retail access to crypto-linked ETPs. The product is physically backed, with Bitcoin held securely by Coinbase using multiparty computation and segregated cold storage. The ETP has a total expense ratio of 15 basis points per year, temporarily waived until the end of 2025, and will rise to 25 bps from January 2026. The launch coincides with growing UK retail crypto ownership and mirrors BlackRock’s success with its U.S. Bitcoin ETF, which now manages over $100 billion. The FCA stated that market maturity and institutional-grade custodians have made crypto ETPs more suitable for regulated markets.

Terms & Concepts
  • Bitcoin ETP: An exchange-traded product that tracks Bitcoin’s price, enabling investment through traditional stock markets.
  • Financial Conduct Authority (FCA): The UK’s financial regulator responsible for overseeing and authorizing financial markets and investment products.
  • Cold Storage: An offline method for securely storing cryptocurrencies, protecting them from online hacking or theft.