Two major financial institutions have secured crucial licenses from the UK’s Financial Conduct Authority (FCA) to operate in the crypto space. Blackrock, a global asset manager, has been granted approval for its spot Bitcoin ETP and will now offer this product to institutional clients in the UK. This move follows the FCA’s stringent registration process, which only approved 51 firms out of hundreds of applications. Other prominent names, like Coinbase, Kraken, Gemini, and Fidelity, have also received approval under the same regime. Meanwhile, Galaxy Digital, a crypto investment firm headed by Mike Novogratz, has expanded its operations in the UK to offer crypto derivatives trading through its London office. This development follows a recent settlement with the New York Attorney General’s office for Galaxy’s involvement in promoting the defunct TerraLuna cryptocurrency project.