BlackRock Receives Cryptocurrency Registration from UK FCA
The world's largest asset manager will be granted permission to act as bookrunner for iShares Digital Assets AG, an exchange-traded products company.
Author: Camomile Shumba | Edited by: Oliver Knight Updated: April 2, 2025, 2:55 PM Published: April 2, 2025, 10:56 AM
Basic information:
- On Tuesday, BlackRock managed to register with the Financial Conduct Authority's strict cryptocurrency registry.
- The UK received 368 applications to register on its crypto register, but only 51 firms were approved.
BlackRock was able to get onto the Financial Conduct Authority's hard register of cryptocurrencies on Tuesday, according to information posted on the regulator's website.
The world's largest asset manager will be allowed to act as a bookrunner for iShares Digital Assets AG, which issues exchange-traded products (ETPs) – financial instruments linked to an underlying asset, in this case crypto assets.
Getting registered with the UK crypto register is a complex task. The FCA’s crypto register was established in 2020 to ensure that crypto firms wishing to serve UK clients could only do so after registering under the country’s anti-money laundering rules. The UK received 368 applications, but only 51 firms were approved.
As an arranger, BlackRock will be able to “facilitate the execution of cryptoasset transactions in support of ETP subscriptions and redemptions” between issuers and authorized participants, but will not be able to onboard new customers.
Moreover, he will not be able to operate a system that “uses automated processes to exchange crypto assets for money” and vice versa without the written permission of the regulator.
BlackRock joins cryptocurrency exchange Coinbase, which was also able to join the register this year, although it faces a new regime for working with cryptocurrencies.
