BlackRock Receives Green Light from FCA to Operate Cryptocurrencies in the UK

• BlackRock authorized by the FCA
• Expansion in the ETP market
• Regulatory challenges remain

In a move that further solidifies its position in the global financial market, leading global asset manager BlackRock has just received approval from the UK’s Financial Conduct Authority (FCA) to officially operate in the cryptocurrency sector. This authorization marks a significant turning point for the company in its journey to expand into the growing digital asset market.

With the registration granted by the FCA, BlackRock now positions itself as the 51st company authorized to operate with crypto assets in the United Kingdom, joining heavyweights such as Coinbase, PayPal and Revolut, which already comply with the rigorous regulatory standards imposed by the agency. This registration was officialized on April 1, 2025, highlighting the company in a select group that promotes the integration of traditional financial services with the new demands of the cryptocurrency market.

Innovations and Attraction Strategies

Additionally, the company launched the iShares Bitcoin ETP, which began trading on the Euronext exchanges in Paris and Amsterdam, strengthening BlackRock’s presence in the European market. To attract investors, the company offered a temporary fee waiver, maintaining an expense ratio of just 0,15% until the end of the year. After that period, the fees will adjust to 0,25%, in line with similar products in the market, such as CoinShares’ Bitcoin ETP.

This product is aimed at both institutional investors and experienced retail traders, providing a low-cost and regulated option for those wishing to invest in Bitcoin through conventional financial structures.

Regulatory Challenges and Critical Insight

Despite the progress, the FCA has faced criticism for its conservative approach to regulating cryptocurrencies. A mere 9% approval rate for new company registrations in this sector has raised questions about the UK’s ability to establish itself as a global hub for cryptocurrencies.

Alan Wey, founder of Aventus, expressed concerns in an interview with DL News: “This low approval rate raises concerns about the UK’s ambition to become a crypto hub.”

The FCA, for its part, defends its position, highlighting that many of the rejected applications failed to include essential information or did not meet the necessary compliance standards.

BlackRock’s approval by the FCA represents not only a milestone for the company, but also an important step towards recognizing cryptocurrencies as legitimate financial instruments. With this expansion, the UK positions itself as a strong player in the global digital asset market, supporting BlackRock’s ongoing efforts to integrate Bitcoin into traditional finance.