The UK just made a major move in crypto regulation! Global asset management giant BlackRock and digital asset powerhouse Galaxy Digital have received official approval from the UK Financial Conduct Authority (FCA)—a big step forward for the cryptocurrency industry.
BlackRock Joins the UK’s Crypto Elite
BlackRock has officially registered as a crypto asset firm in the UK, allowing it to operate and manage crypto-related exchange-traded products (ETPs). This means it can now introduce its European spot Bitcoin ETP, which is backed by actual Bitcoin.
BlackRock’s iShares Bitcoin ETP, which first launched in Europe earlier this month, is following the massive success of its US-based IBIT spot Bitcoin ETF. In the US alone, IBIT has attracted over $40 billion in investments since its debut in January 2024.
However, there’s a catch: In the UK, these crypto ETPs are only available to institutional and professional investors. The FCA still restricts everyday retail investors from accessing these products on regulated markets.
Galaxy Digital Expands with UK Derivatives License
Meanwhile, Galaxy Digital has secured an FCA license to expand its derivatives trading business in the UK. This approval strengthens Galaxy’s ability to provide cutting-edge trading solutions for institutional clients.
Galaxy Digital, which has been active in the UK since 2021, will now be able to grow its investment banking services, fund distribution, and capital-raising operations through its UK subsidiary.
Galaxy Europe CEO Leon Marshall emphasized the significance of this approval, stating:
“London is a critical financial hub, and this authorisation allows us to deepen our presence in the UK, aligning with our mission to bridge traditional finance with the digital asset ecosystem.”
Why This Matters
The UK is proving itself as a major player in crypto regulation, offering a structured environment that attracts top talent and investments. Unlike some regions that have taken a hostile stance toward crypto, the UK is positioning itself as a leader in the digital asset space.
With big names like BlackRock and Galaxy Digital gaining approval, it’s clear that institutional crypto adoption is only growing stronger. The question now is: Will retail investors in the UK eventually get access to these investment products? Only time will tell!
