BlackRock Gains UK Crypto Clearance, Boosts European Bitcoin ETP Operations

2 mins mins

Key Points:

BlackRock’s UK crypto clearance boosts European Bitcoin ETP operations.
Approval signals major step in cryptocurrency’s mainstream acceptance.
Positive community sentiment reflects confidence in BlackRock’s market entry.

BlackRock has received authorization from the UK Financial Conduct Authority to become a registered crypto asset company, permitting its European Bitcoin ETP operations.

This move emphasizes BlackRock’s expansion in the crypto market, heralding mainstream acceptance of digital assets in the UK and Europe.

BlackRock’s Entry into European Bitcoin ETP Market

BlackRock, the world’s largest asset manager, has secured authorization from the UK Financial Conduct Authority, enabling it to operate as a registered crypto asset company. This approval facilitates the management of its newly launched European Bitcoin exchange-traded product (ETP) as a UK entity.

BlackRock’s ETP trading commenced on March 25, 2025, across Xetra, Euronext Amsterdam, and Euronext Paris with a management fee of 0.25%. A temporary fee waiver reduces it to 0.15% until year-end 2025. The asset manager’s competitive fee structure aims to solidify its market position.

The crypto community’s response is notably positive. CEO Larry Fink highlighted Bitcoin’s role in potentially replacing traditional assets if the U.S. fails to control its debts. “If the U.S. doesn’t get its debt under control, if deficits keep ballooning, America risks losing that position to digital assets like Bitcoin,” said Larry Fink, reflecting the growing importance of digital assets like Bitcoin in the current global financial scenario.

Bitcoin Rises to $84,982 Amid BlackRock’s Strategic Moves

Did you know? BlackRock’s authorization by the FCA marks it as the 51st firm to achieve crypto asset registration, signifying growth and mainstream acceptance of digital assets in regulated finance.

As of April 2, 2025, Bitcoin (BTC) is priced at $84,982.73 with a market cap over $1.69 trillion, maintaining a 61.66% market dominance. With a circulation of 19,845,187 BTC, recent data from CoinMarketCap shows a 24-hour price increase of 2.91%.

bitcoin-daily-chart-87 — Bitcoin(BTC), daily chart, screenshot on CoinMarketCap at 00:56 UTC on April 2, 2025. *Source: CoinMarketCap*

Insights from the Coincu research team suggest that BlackRock’s competitive approach and low-fee structure may lead to heightened competition among existing ETP providers. Stephen Wundke, Director of Strategy and Revenue, Algoz, remarked, “There is no doubt BlackRock’s aggressive fee structure was designed to keep competitors out of the market and question the commitment of any new entrants.”