The American asset management giant, BlackRock, has obtained the coveted registration from the UK Financial Conduct Authority (FCA), the British regulator. This strategic move strengthens its presence in the digital assets universe.
BlackRock obtains exclusive certification in the United Kingdom
Joining the list of FCA crypto providers is no easy feat. Since its establishment in 2020, this registration has become a vital regulatory requirement for any company wishing to offer services related to crypto assets in the UK. Out of the 368 applications submitted, only 51 have been approved to date. By adding itself to this shortlist, BlackRock demonstrates its ability to comply with the strictest standards in anti-money laundering and financial surveillance.
Well-defined role for iShares Digital Assets AG
With this authorization, BlackRock will act as an “arranger” on behalf of its subsidiary, iShares Digital Assets AG. This subsidiary issues exchange-traded products (ETPs/ETFs) backed by digital assets. However, the asset manager will not be able to onboard new clients or operate automated infrastructure to convert crypto assets into fiat currencies without explicit authorization from the regulator.
In concrete terms, BlackRock is now authorized to facilitate the execution of crypto transactions between issuers and authorized participants, thereby facilitating the subscriptions and redemptions of these ETPs. It plays a key but limited role in the issuance chain.
A strong signal for the crypto ecosystem
BlackRock’s entry into this exclusive circle sends a clear message: the biggest names in traditional finance are intensifying their engagement with digital assets, despite an ever-evolving regulatory environment. The registration of Coinbase on the same register earlier this year further strengthens this trend.
As the UK prepares for broader crypto regulation reform, BlackRock’s approval comes at a strategic moment. The FCA is seeking to strike a balance between technological innovation and investor protection. By partnering with institutional players of this magnitude, it lends credibility to its approach while accelerating the structuring of the UK market.
Towards increased institutional adoption
This advancement is not isolated. It is part of a global movement where ETPs and other financial instruments backed by cryptocurrencies are gaining ground in institutional portfolios. BlackRock, which has been making multiple initiatives in the crypto market, particularly in the United States, is consolidating its position as a pioneer among financial giants.
