BlackRock Gains UK Crypto Approval, Sets Sights on Institutional Dominance
BlackRock International Ltd. has received approval from the UK’s Financial Conduct Authority (FCA) to act as an arranger for crypto-backed exchange-traded products (ETPs) on behalf of its client, Ishares Digital Assets AG.
The approval, granted on April 1, allows BlackRock to facilitate specific crypto transactions related to ETP subscriptions, redemptions, and sales for operational fees. However, the approval is narrowly scoped. With BlackRock limited to working with Ishares. And requiring prior consent from the FCA to onboard new clients or operate automated crypto exchange processes.
This approval marks a significant step for institutional crypto investing in the UK. Although retail investors remain excluded.
Clever Robot News Desk 4th April 2025
