In Brief
- BlackRock lists physically backed Bitcoin ETP on London Stock Exchange.
- UK retail investors gain BTC exposure through traditional trading accounts.
- Bitcoin rebounds 4.23% in 24h, trading above $110K after recent volatility.
BlackRock has listed its iShares Bitcoin ETP (IB1T) on the London Stock Exchange, targeting retail investors in the UK. This marks the first time UK-based traders can gain direct Bitcoin exposure through traditional brokerage accounts.
The ETP is fully backed by physical Bitcoin held via Coinbase, eliminating the need for users to manage wallets or private keys. At the end of each trading day, all assets are secured in cold storage under institutional-grade custody protocols.
BlackRock launched the product to meet growing UK crypto demand, which has grown at a 12% annualised rate since 2022. The firm projects UK crypto users could reach four million within a year as access improves.
Its latest People & Money report forecasts a 21% increase in new UK crypto investors over the next 12 months. IB1T is built on regulated infrastructure, offering Bitcoin exposure with enhanced security and compliance.
Bitcoin Price Rebounds as Institutional Momentum Grows
Bitcoin is currently trading at $110,895.73, showing a 4.23% gain over the past 24 hours despite a slight hourly pullback. This rebound follows recent market weakness and reflects growing confidence, possibly supported by institutional participation.
However, Bitcoin remains down 3.56% on the weekly chart, signaling that recovery is not yet complete. Still, the current price action suggests consolidation and renewed momentum near resistance levels.
The BlackRock listing may drive further adoption by connecting traditional investors to Bitcoin through a regulated gateway. Analysts view this development as a key moment in bridging conventional finance with digital assets.
BlackRock’s move adds to ongoing institutional trends, with broader interest expanding across Ethereum and other crypto assets. If momentum continues, Bitcoin could test higher resistance as investor sentiment strengthens.
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Source: https://coincu.com/news/blackrock-lists-bitcoin-etp-in-uk/