BlackRock’s IB1T Goes Live in London — First-Hour Volume Hints at Growing UK Bitcoin Appetite

Core Insights - BlackRock's iShares Bitcoin ETP (IB1T) launched on the London Stock Exchange, providing UK retail investors regulated exposure to Bitcoin without direct ownership [1][3] - The Financial Conduct Authority's (FCA) recent policy change lifted a multi-year ban on crypto-based exchange-traded products, reopening the UK retail crypto investment market [3][4] - The launch of IB1T is seen as a significant step for the UK to re-establish itself as a hub for regulated crypto finance, following a global surge in institutional adoption of ETFs [4][5] Trading Activity - In its first hour of trading, over 1,000 shares of the physically backed product, custodied by Coinbase, were traded, indicating cautious interest among UK investors [2] - Although early trading volume is modest compared to U.S. figures, analysts view the launch as symbolically important for the UK crypto market [4] Market Context - The launch aligns with a broader global strategy by BlackRock to expand its digital asset offerings, following the success of its U.S.-listed iShares Bitcoin Trust (IBIT), which holds $85.5 billion in net assets [6][7] - The IB1T product is part of a growing trend of global spot Bitcoin ETF inflows, which have surged since the approval of U.S. spot Bitcoin ETFs earlier this year [2][5] Strategic Implications - The debut of IB1T signals a warming attitude towards digital assets in the UK, bridging traditional finance with emerging investment demands [5] - BlackRock, managing over $13 trillion in assets, has seen strong momentum in crypto markets, surpassing $245 million in annual fees from its digital asset products [7]