BlackRock launches Bitcoin spot ETP on London Stock Exchange

Following UK regulators' relaxation of regulations on cryptocurrency investment vehicles, BlackRock Group officially launched the UK's first Bitcoin-linked exchange-traded product (ETP).

According to the asset management company's website, the iShares Bitcoin ETP was listed on the London Stock Exchange on Monday. According to The Sunday Times, the product is a Bitcoin-linked security, allowing investors to purchase Bitcoin shares at a price of approximately $11.

The ETP tracks Bitcoin's market price within a regulatory framework, allowing UK investors to invest in Bitcoin directly using traditional securities accounts without going through a cryptocurrency trading platform.

BlackRock stated that this product provides retail investors with a compliant way to access the Bitcoin market under the UK securities regulatory system. According to SoSoValue data, this product follows the structure of similar products launched by BlackRock in the US, where its iShares Bitcoin ETF has attracted over $85 billion in net assets.