BlackRock, the world's largest asset manager with $12 trillion in assets, has been approved by the UK's Financial Conduct Authority (FCA) to operate as a crypto asset firm. This approval, making BlackRock the 51st company on the FCA's list, allows it to offer crypto services in the UK, including its iShares Bitcoin Exchange-Traded Product (ETP). The approval comes after BlackRock announced the launch of its Bitcoin ETP in Europe, which is listed on the Euronext stock markets in Paris and Amsterdam. The ETP, which has a fee waiver of 10 basis points until the end of the year, reducing its expense ratio to 0.15%, is available to both institutional and informed retail investors. After the waiver ends, the expense ratio will revert to 0.25%, aligning it with rival products like that listed by CoinShares. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
