A fierce price war has erupted in the UK’s cryptocurrency exchange-traded note (ETN) market after regulators reopened access to retail investors for the first time in over four years. The move has triggered a wave of fee cuts from leading issuers, driving costs for bitcoin-linked products down to as little as 0.05%, levels even lower than most traditional equity and bond funds. The Financial Conduct Authority (FCA) lifted its ban on retail investment in crypto ETNs on October 8, marking a major policy re ...

Market Trend - BlackRock's iShares Bitcoin ETP debuted on the London Stock Exchange [1] - Jacobi Asset Management's representative explains the significance of this event for Bitcoin in the UK [1] Company Focus - Cointelegraph is covering the iShares Bitcoin ETP debut and its implications [1]

BlackRock has launched its first Bitcoin exchange-traded product for UK retail investors, opening institutional-grade crypto access to Britain's retail market amid volatile trading conditions. The iShares Bitcoin ETP began trading on the London Stock Exchange on Monday, with securities physically backed by Bitcoin held through Coinbase, as per the Financial Times report. "As the UK crypto investor base is projected to approach 4 million over the next year, today's listing of exchange-traded products like ...

Core Insights - BlackRock Inc. has launched a bitcoin exchange-traded product (ETP), iShares Bitcoin, in Europe following the success of its $48 billion U.S. fund tracking cryptocurrency [1] Group 1: Product Details - The iShares Bitcoin ETP was listed on Xetra and Euronext Paris under the ticker IB1T, and on Euronext Amsterdam under the ticker BTCN, with a temporary fee waiver of 10 basis points, reducing its expense ratio to 0.15% until the end of 2025 [2] - The fee waiver positions IB1T as one of the cheapest options at launch, compared to CoinShares International Ltd.'s $1.3 billion physical Bitcoin product, which charges a 0.25% fee [3] - IB1T is accessible to both institutional and informed retail investors and was issued by a special-purpose vehicle registered in Switzerland [3] Group 2: Strategic Rationale - The launch aims to leverage the increasing demand for cryptocurrency exposure in markets outside the United States, aligning with BlackRock's strategy to enhance offerings and grow assets under management [4] - Manuela Sperandeo, head of Europe & Middle East iShares product at BlackRock, indicated that this launch reflects a significant shift in the industry, driven by established retail demand and increasing professional interest [5] Group 3: Market Performance - BlackRock's shares have increased by 2% over the past six months, compared to the industry's growth of 2.4% [6]