BlackRock has been granted official approval by the UK Financial Conduct Authority (FCA) to operate as a registered crypto asset firm, allowing the company to offer a wider range of crypto services to UK investors.
BlackRock's approval as the 51st company authorized to manage crypto assets in the UK highlights FCA's commitment to consumer protection and maintaining the integrity of the UK's financial system in the face of growing crypto adoption.
With the FCA approval, BlackRock can now offer its European Bitcoin exchange-traded product (ETP) to UK investors, providing a regulated pathway for them to gain exposure to Bitcoin and diversify their portfolios.
BlackRock's expansion into the crypto space is in line with the surge in institutional interest in crypto investments, further legitimizing the market and driving innovations in digital asset investment products.