BlackRock has listed its iShares Bitcoin ETP on the London Stock Exchange, giving UK retail investors access to bitcoin exposure through traditional trading accounts for the first time.
The exchange traded product is 100% physically backed by bitcoin held directly via Coinbase, removing the need for investors to manage private keys or digital wallets.
BlackRock said the launch responds to growing UK demand for cryptocurrency, with investor participation rising at an annualised rate of 12% since 2022.
Research from its People & Money: The Next Wave of Crypto Investors in the UK report predicts a 21% increase in first-time crypto investors over the next 12 months, with the UK ranking third in Europe for crypto investment growth.
The iShares Bitcoin ETP (IB1T) leverages technology integration between Coinbase and BlackRock. Coinbase provides institutional-grade custody, combining physical security, multiparty computation and strict process controls to protect client assets.
Bitcoin transferred into the ETP is moved into segregated, offline cold storage wallets at the end of each trading day.
Jane Sloan, EMEA head of global product solutions at BlackRock, said: “As the UK crypto investor base is projected to approach four million over the next year, today’s listing unlocks a secure gateway to digital assets through traditional investment platforms. Built on institutional-grade infrastructure, IB1T enables UK investors to gain exposure to bitcoin with confidence in robust custody and regulatory oversight.”
The BlackRock Investment Institute said that for investors with appropriate governance and a tolerance for short-term volatility, a 1–2% allocation to bitcoin could be a reasonable range in diversified portfolios.
