BLACKROCK STEPS INTO THE CRYPTO BATHWATER! 🤯
Oh, joy! Oh, rapture! The esteemed BlackRock, that paragon of virtue and rectitude, has finally managed to secure the FCA’s approval to operate as a crypto asset firm in the UK. One can only assume that the esteemed regulators were simply blinded by the brilliance of BlackRock’s compliance with their “high standards”. 🙄
Now, with its European Bitcoin exchange-traded product (ETP) being run under a UK entity, BlackRock can further expand its dominion over the crypto markets. Because, you know, the world really needs another monolithic financial giant controlling the flow of digital assets. 🤪
The FCA, in its infinite wisdom, has seen fit to grant BlackRock this approval, no doubt after a rigorous review process that consisted of one or two sternly-worded letters. But we should all be grateful, for this approval highlights BlackRock’s unwavering commitment to following the rules (mostly). 😒
As if this wasn’t enough, BlackRock’s iShares Bitcoin ETP has been listed on the Euronext stock markets in Paris and Amsterdam, complete with a temporary fee waiver of 10 basis points (because, you know, free money is always a good thing). This is designed to attract both retail and institutional investors looking for a more… well, less sketchy way to invest in Bitcoin. 💸
According to Manuela Sperandeo, BlackRock’s head of Europe & Middle East iShares Product, this is a major shift for the industry. One can only assume that she’s referring to the fact that BlackRock is now officially registered with the FCA under reference number 178638, and not, say, the fact that cryptocurrency is still a highly volatile and potentially ruinous investment. 🤓
With this approval, experts predict that more big investors will flock to crypto, and London will become a major hub for digital assets. Because, you know, nothing says “stable and secure” like a cryptocurrency market dominated by massive financial institutions. 😂
Neither BlackRock nor the FCA has commented on the registration, but this approval is another sign that cryptocurrency is gaining ground in mainstream finance. Or, at the very least, that BlackRock is getting good at playing the regulatory game. 🤷♂️
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2025-04-02 11:33