BlackRock lists iShares Bitcoin ETP on London Stock Exchange

BlackRock has listed its iShares Bitcoin exchange traded product on the London Stock Exchange, giving UK retail investors regulated access to bitcoin through standard brokerage accounts after a recent easing of British rules on crypto investment vehicles. The product, which BlackRock says is physically backed by bitcoin held via Coinbase and designed to mirror the asset's spot price, allows investors to buy fractional units without managing private keys or using crypto exchanges.

BlackRock said the iShares Bitcoin ETP uses institutional custody arrangements provided by Coinbase, combining multiparty computation and process controls to protect client assets. According to the company, bitcoin transferred into the ETP is moved into segregated, offline cold storage wallets at the end of each trading day. BlackRock also said the product carries a total expense ratio of 0.15 percent per annum until 31 December 2025, rising thereafter to 0.25 percent. Units are priced to allow small purchases, starting at roughly 11 pounds, BlackRock said.

The listing follows regulatory changes by the Financial Conduct Authority that in October lifted a four year prohibition on retail access to certain...