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The launch of the first iShares Bitcoin Exchange-Traded Product (ETP) in London by BlackRock was a breakthrough that British investors had long awaited for years to find a regulated means of investing in Bitcoin.
The product is live on the London Stock Exchange (LSE) under the symbol IB1T. Its launch comes after the Financial Conduct Authority lifted a four-year ban that prevented everyday savers from purchasing crypto-linked funds.
Its previous ban, enforced in January 2021, was the result of the fear that there is a possibility of abnormal price fluctuations that may damage unskilled traders. That stance has shifted. The regulators are now stating that the market has taken a new look, one that is more insightful, transparent, and supported by a strong rubric.
According to recent studies by the FCA, approximately 12 percent of the adult population of the United Kingdom, which is about seven million people, already own digital assets. That has been as low as four percent in 2021.
David Geale, the FCA’s executive director for payments and digital finance, said the shift reflects how far crypto has come. “Since we restricted retail access to cETNs, the market has evolved and products have become more mainstream and better understood,” he noted.
The timing worked in BlackRock’s favor. Bitcoin trades near $110,000, more than three times higher than when the FCA first locked retail investors out. IB1T opened on 20 October 2025 at $11.10 and climbed 5.54 percent by the end of its first session.
The fund is physically backed, giving investors direct exposure to Bitcoin’s spot price without needing a wallet or private keys. For now, its annual fee sits at 0.15 percent, rising to 0.25 percent after 31 December 2025.
BlackRock did not claim the stage alone. On the same morning, 21Shares, WisdomTree, and Bitwise listed competing crypto funds.
21Shares unveiled four products tracking Bitcoin and Ethereum in its “Core” range, charging just 0.10 percent in management fees. The Swiss company already accounts for about 70 percent of institutional crypto volume on the LSE.
WisdomTree introduced two ETPs priced at 0.15 percent and 0.35 percent, while Bitwise offered a Core Bitcoin ETP at an initial 0.05 percent for six months - the lowest of them all. Calling the moment “a landmark step for the UK market,” 21Shares CEO Russell Barlow said it finally lets ordinary investors take part in a regulated segment of the crypto economy.
IB1T joins a broader suite of BlackRock crypto products, including its U.S.-listed Bitcoin ETF, an Ethereum ETP, and the BUIDL digital liquidity fund. The company says every coin held for IB1T is stored by regulated custodians under full UK compliance.
By permitting these listings, Britain effectively moves in line with U.S. and European markets, adopting a more pragmatic attitude toward digital-asset investment. Traditional finance and blockchain technology are now meeting on the same trading floor.
As adoption accelerates worldwide, one question lingers: Could IB1T become the standard way British investors gain exposure to Bitcoin within one of the world’s oldest financial hubs?
The listing of BlackRock’s IB1T on the London Stock Exchange signals a major policy and market shift. Retail investors in the UK can now access regulated Bitcoin exposure for the first time in four years. With global markets converging around similar products, this move positions London as a central gateway for mainstream digital-asset investment.
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