BlackRock launches Bitcoin ETP as UK lifts trading ban

BlackRock has listed its iShares Bitcoin Exchange-Traded Product (ETP) on the London Stock Exchange, capitalizing on the Financial Conduct Authority's (FCA) decision to relax restrictions on crypto-linked investment vehicles. The ETP allows UK investors to gain exposure to Bitcoin price movements through traditional brokerage accounts by trading units starting at approximately $11, without directly holding the cryptocurrency. This development follows the FCA lifting its four-year ban on crypto exchange-traded notes (ETNs) in October, stating that the market has evolved and products are now better understood. While the FCA eased rules for ETPs and allowed asset managers to use blockchain for fund tokenization, it maintained its retail ban on crypto asset derivatives but indicated it will continue monitoring the high-risk investment space.

(Source：Cointelegraph)