BlackRock receives FCA approval to register as crypto asset firm

According to DL News, BlackRock, a global asset management giant, has been approved by the UK Financial Conduct Authority (FCA) to become a registered crypto asset company. This means that the company will be able to operate its newly launched European Bitcoin exchange-traded product (ETP) as a UK entity.

According to the list updated on the FCA official website on April 1, BlackRock became the 51st company to obtain this qualification, alongside companies such as Coinbase, PayPal and Revolut. It is worth noting that the FCA's approval rate for crypto companies is only about 14%, and the agency has clearly stated that it will reject applications that "lack key assessment elements or substandard material quality." This approval paves the way for BlackRock to promote iShares Bitcoin ETP in Europe.