BlackRock Launches Bitcoin ETP on London Stock Exchange

According to PANews, BlackRock's Bitcoin Exchange-Traded Product (ETP) began trading on the London Stock Exchange on October 20, under the ticker IB1T. This marks the first time the asset management firm has introduced such a product in the UK, following the Financial Conduct Authority's (FCA) lifting of restrictions on certain Bitcoin-related ETPs. The product is already listed on several European exchanges, including Xetra, Euronext Amsterdam, and Euronext Paris, enabling retail investors to indirectly invest in Bitcoin through regulated markets without directly holding the cryptocurrency. Additionally, Swiss firm 21Shares has launched four flagship crypto Exchange-Traded Notes (ETNs) for UK retail investors for the first time. These include Bitcoin (ABTC) and Ethereum (AETH) staking products, as well as two low-fee 'Core' products, CBTC and ETHC, with a management fee of 0.10%. BlackRock currently manages over $13 trillion in assets, with its flagship Bitcoin ETF, iShares Bitcoin Trust (IBIT), holding $85.5 billion in net assets, making it the largest spot Bitcoin ETF globally.