BlackRock, the world’s largest asset manager with over $12 trillion in assets under management, has secured official recognition as a crypto asset firm from the UK’s Financial Conduct Authority (FCA). This move places BlackRock among other prominent crypto players in the UK market like Coinbase and Revolut, all of which have registered as crypto firms. 📚 BlackRock’s registration underscores the stringent requirements needed to operate within the UK’s dynamic cryptocurrency landscape. The FCA has implemented a rigorous approval process demanding complete submissions before granting official recognition. 🧐 This move aligns with BlackRock’s recent launch of the iShares Bitcoin ETP, which has been listed on major European stock exchanges including Euronext Paris and Amsterdam. This provides investors with a regulated pathway to access Bitcoin exposure – both for retail and institutional investors. 📈 Manuela Sperandeo, BlackRock’s head of Europe & Middle East iShares Product, emphasized that this is a significant step forward in the industry’s development as more professionals are entering the cryptocurrency space. The initial fee waiver on the ETP reduces its expense ratio to 0.15% until the end of the year. The registration on the FCA’s official website signifies increased legitimization for Bitcoin and other cryptocurrencies in mainstream financial markets, potentially accelerating adoption across Europe. 🌍