BlackRock's Bitcoin ETP has been launched on the London Stock Exchange

ChainCatcher news, BlackRock's Bitcoin exchange-traded product (ETP) has been launched on the London Stock Exchange, with the trading code IB1T. This is the asset management company's first such product in the UK, following the Financial Conduct Authority (FCA) lifting the ban on certain Bitcoin-related ETPs.

The product has been listed on several exchanges in Europe, including Xetra, Euronext Amsterdam, and Euronext Paris, allowing retail investors to indirectly invest in Bitcoin through regulated markets without having to hold the cryptocurrency directly. Additionally, Swiss firm 21Shares has also launched four flagship crypto ETNs for UK retail investors for the first time, including Bitcoin (ABTC) and Ethereum (AETH) staking products, as well as two low-fee "Core" products CBTC and ETHC, with a management fee of 0.1%. BlackRock currently manages assets exceeding $13 trillion, and its flagship Bitcoin ETF iShares Bitcoin Trust (IBIT) has $85.5 billion in net assets, making it the largest spot Bitcoin ETF in the world.