BlackRock just muscled its way into the UK crypto scene. The $12 trillion asset manager became the 51st company approved by the Financial Conduct Authority (FCA) to offer crypto services in Britain since 2020. No big deal, right? Wrong.
This isn’t just another approval. The FCA has rejected 86% of crypto business applications since 2020. But when BlackRock comes knocking, doors swing open. Funny how that works.
The approval means UK investors can now access BlackRock’s iShares Bitcoin ETP, adding to platforms already available in Germany, France, and the Netherlands. Brexit Britain desperately wants to be a FinTech hub, and BlackRock’s arrival fits that narrative perfectly.
Let’s be real about what’s happening here. BlackRock’s US-based Bitcoin Trust already controls 2.9% of all Bitcoin in existence. The fund holds $48.97 billion in assets with nearly $40 billion in net inflows. That’s not just big—it’s market-altering massive.
For UK investors, the FCA stamp means added confidence. Regulation equals legitimacy. Bitcoin just got another mainstream co-sign. The suits are fully embracing crypto now.
But there’s a darker side to this corporate crypto invasion. Smaller firms can’t compete with BlackRock’s resources or brand power. The company that manages retirement funds for millions is now grabbing Bitcoin by the blockchain.
The centralization is exactly what crypto was supposed to avoid. A few giant firms controlling the supposedly decentralized future? Ironic.
For the UK, this represents a strategic win. Post-Brexit financial strategy needs heavy hitters, and they don’t come heavier than BlackRock. This approval came on April 1, 2025, marking a significant milestone in the company’s digital asset expansion. The move signals to other institutions that crypto in Britain is open for business.
Meanwhile, traditional crypto companies watch nervously as the $12 trillion gorilla settles into their space. The FCA only approved 14% of applicants, but BlackRock isn’t just any applicant.
Each share of the new product is backed by physical Bitcoin with Coinbase serving as the custodian, ensuring secure storage of the underlying assets.
With Bitcoin’s large-cap status providing the stability that institutional investors crave, BlackRock’s timing couldn’t be more strategic.
Welcome to crypto’s corporate era. Decentralization was nice while it lasted.
