BlackRock Bitcoin ETP FCA Approval: Crypto Impact
BlackRock‘s Bitcoin ETP has just received FCA approval, and this marks a really major step forward for institutional crypto adoption right now. The massive asset manager, which currently oversees around $12 trillion, has become the 51st company to be registered with the UK regulator, joining the likes of Coinbase, PayPal, and also Revolut. This approval follows their recent listing on Euronext Paris and Amsterdam where they launched the iShares Bitcoin ETP under the ticker IB1T last week. Also Read: US Dollar Experiences Sharpest Monthly Decline in 2 Years How BlackRock’s Bitcoin ETP and FCA Approval Impact Investors The newly approved BlackRock Bitcoin ETP has been launched with quite a competitive fee structure, including a temporary 0.15% waiver that will remain in place until the end of 2024. After that time period, the fee will go up to match CoinShares’ rate of about 0.25%. An important feature of this product is that each share actually has backing from real Bit...