UK Retail Investors Gain Access to Multiple Bitcoin ETPs on London Stock Exchange Following FCA Ban Lift

London, UK – Retail investors in the United Kingdom can now access Bitcoin Exchange-Traded Products (ETPs) directly on the London Stock Exchange (LSE), marking a significant shift in the country's cryptocurrency investment landscape. This development follows the Financial Conduct Authority's (FCA) decision to lift a four-year ban on retail access to crypto exchange-traded notes, effective October 8, 2025. Asset management giant BlackRock, along with other prominent issuers such as 21Shares, WisdomTree, and Bitwise, debuted their Bitcoin ETPs on the LSE today, October 20, 2025.

The move allows individual investors to gain regulated exposure to Bitcoin without directly holding the cryptocurrency, a capability previously restricted due to regulatory concerns. BlackRock's iShares Bitcoin ETP (IB1T) is physically backed by Bitcoin held in custody through Coinbase, ensuring secure storage via multiparty computation and cold storage systems. The product lists with a total expense ratio (TER) of 0.15% until January 1, 2026, after which it will increase to 0.25%.

Several other firms also launched or made their existing products available to retail investors. Switzerland-based 21Shares introduced four crypto ETNs, including Bitcoin and Ethereum staking products, while WisdomTree and Bitwise also listed their Bitcoin ETPs. These launches signal increased competition, with some firms, like Bitwise, reducing fees on their core Bitcoin ETPs to as low as 0.05% for at least six months.

The FCA's reversal of the 2021 retail ban is seen as a maturation of the crypto market and a step towards aligning the UK with other major financial hubs. BlackRock's iShares Bitcoin Trust (IBIT) in the U.S. has already amassed over $85.5 billion in net assets, becoming the largest spot Bitcoin ETF globally. The London debut is part of BlackRock's broader strategy to expand its digital asset offerings internationally.

Experts anticipate that this increased accessibility could attract new capital from UK wealth managers and institutional portfolios seeking compliant crypto exposure. The BlackRock Investment Institute suggests that a 1-2% allocation to Bitcoin can be reasonable in diversified portfolios for investors who can tolerate its volatility. This regulatory milestone positions London as a growing center for regulated crypto finance, potentially paving the way for further innovation in the UK's financial markets.