BlackRock launches IB1T for UK
The world's largest asset manager has launched a Bitcoin-linked exchange-traded product (ETP) in the United Kingdom.
BlackRock’s IB1T launch comes shortly after the Financial Conduct Authority (FCA)’s decision to increase access to various crypto-linked ETPs, lifting its four-year ban on crypto exchange-traded notes (ETNs).
“We’re expanding access to digital assets – our iShares Bitcoin ETP (IB1T) is now available on exchange in the UK,” said BlackRock in a social media post.
“With crypto investors potentially reaching 4 million in the UK this year, IB1T will help investors engage with new markets responsibly.”
The regulator's decision set out a clear intention to increase the use of digital assets within the UK asset management industry, for instance, allowing asset managers to use blockchain technology for fund tokenisation.
Read more on the FCA’s plans for asset management here: https://capitalpioneer.co.uk/fca-commits-to-tokenisation-boost-for-asset-management/.
Alongside BlackRock, another fast mover following the FCA’s decision is WisdomTree (https://capitalpioneer.co.uk/wisdomtree-gains-fca-etp-approval/), now offering its ETPs to retail investors.